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Code of Alabama — Title 40 (Revenue and Taxation)

Ala. Code § 40-18-11

Inventory

Official textalison.legislature.state.al.us

Whenever in the opinion of the Department of Revenue the use of inventories is necessary in order clearly to determine the income of any taxpayer, the inventory shall be taken by such taxpayer in accordance with the methods and procedures prescribed in 26 U.S.C. §§263A, 471, 472, 473 and 474.

Last amended: Acts 1935, No. 194, p. 256; Code 1940, T. 51, §381; Acts 1990, No. 90-583, p. 988, §5.

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In this chapter (40 sections)
  1. 40-18-1 · Definitions
  2. 40-18-1.1 · Operating Rules
  3. 40-18-2 · Levied; Persons and Subjects Taxable
  4. 40-18-2.1 · Income of Foreign Missionary Exempt
  5. 40-18-2.2 · Exemption of Certain Nonresident Income
  6. 40-18-3 · (Effective January 1, 2025) Income of Officers or Agents of…
  7. 40-18-4 · Interest or Other Income Received from Obligations of the…
  8. 40-18-5 · Tax on Individuals
  9. 40-18-6 · Gain or Loss - Basis of Property; Adjusted Basis
  10. 40-18-6.1 · Gain or Loss - Special Rules for Capital Gains Invested in…
  11. 40-18-7 · Gain or Loss - Determination of Amount
  12. 40-18-8 · Gain or Loss - Recognition
  13. 40-18-8.1 · Gain or Loss - Recognition of Gains Invested in Opportunity…
  14. 40-18-9 · Gain or Loss - Optional Method for Returning as Income…
  15. 40-18-11 · Inventory
  16. 40-18-12 · Net Income of Individuals - Defined
  17. 40-18-13 · Computation of Income
  18. 40-18-14 · Adjusted Gross Income of Individuals. (Amended by Act…
  19. 40-18-14.1 · Deferred Compensation Plans
  20. 40-18-14.2 · Adjusted Gross Income
  21. 40-18-14.3 · Gross Income - Discount and Interest
  22. 40-18-15 · Deductions for Individuals Generally. (Amended by Act…
  23. 40-18-15.1 · Net Income Taxable Income Defined - Generally
  24. 40-18-15.2 · Net Operating Loss
  25. 40-18-15.3 · Deductions for Health Insurance Premiums
  26. 40-18-15.4 · Deductions for Certain Retrofitting or Upgrades to Homes -…
  27. 40-18-15.5 · Deductions for Certain Retrofitting or Upgrades to Homes -…
  28. 40-18-15.6 · Deductions for Contributions Made to Health Savings…
  29. 40-18-15.7 · Optional Increased Standard Deduction for Qualified Persons
  30. 40-18-15.8 · Deductions for Contributions to Qualifying Alabama…
  31. 40-18-16 · Depreciation
  32. 40-18-17 · Items Not Deductible
  33. 40-18-18 · Amortization of War or Emergency Facilities
  34. 40-18-19 · Exemptions - Generally. (Amended by Act 2026-603)
  35. 40-18-19.1 · Exemptions for Severance, Unemployment Compensation, Etc
  36. 40-18-19.2 · Exemption of Certain Death Benefit Payments for Peace…
  37. 40-18-19.3 · State Income Tax Credit for the Use of Personal Motor…
  38. 40-18-20 · Exemptions - Military Retirement Benefits
  39. 40-18-21 · Credits for Taxes Paid on Income from Sources Outside the…
  40. 40-18-21.1 · Annual Report of Credits Claimed for Taxes Paid to Foreign…
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