Alabama Code > Title 45 > Chapter 28 > Article 24 > Part 6 – Taxation, Severance
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| § 45-28-245 | Definitions; levy and collection of tax; inspection of books; enforcement; construction of section |
Terms Used In Alabama Code > Title 45 > Chapter 28 > Article 24 > Part 6 - Taxation, Severance
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: means next after. See Alabama Code 1-1-1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1