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Code of Alabama — Title 40 (Revenue and Taxation)

Ala. Code § 40-18-31

Corporate Income Tax - Generally

Official textalison.legislature.state.al.us

# (a)

A corporation subject to the tax imposed by Section 40-18-2 shall pay a tax equal to six and one-half percent of the taxable income of the corporation, as defined in this chapter.

# (b)

If the taxpayer elects to file an Alabama consolidated return under Section 40-18-39, the tax shall be assessed, collected, and paid annually for each taxable year at the rate specified in subsection (a), upon and with respect to the taxable income of the Alabama affiliated group.

Last amended: Acts 1935, No. 194, p. 256; Code 1940, T. 51, §398; Acts 1963, 2nd Ex. Sess., No. 104, p. 284, §1; Act 98-502, p. 1083, §1; Act 99-664, 2nd Sp. Sess., p. 124, §1.

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In this chapter (40 sections)
  1. 40-18-19.3 · State Income Tax Credit for the Use of Personal Motor…
  2. 40-18-20 · Exemptions - Military Retirement Benefits
  3. 40-18-21 · Credits for Taxes Paid on Income from Sources Outside the…
  4. 40-18-21.1 · Annual Report of Credits Claimed for Taxes Paid to Foreign…
  5. 40-18-22 · Taxpayers Engaged in Multistate Business - Allocation and…
  6. 40-18-23 · Taxpayers Engaged in Multistate Business - Option of Certain…
  7. 40-18-24 · Taxation of Subchapter K Entity
  8. 40-18-24.1 · Composite Return and Payment by Nonresident Owner of…
  9. 40-18-24.2 · Taxation of Pass-Through Entities
  10. 40-18-24.3 · Taxation on Distributive Share of Interest, Dividends,…
  11. 40-18-24.4 · Alabama Electing Pass-Through Entity Tax Act
  12. 40-18-24.5 · Refundable Credit for Certain Owners, Members, Partners,…
  13. 40-18-25 · Estates and Trusts
  14. 40-18-25.1 · Estates and Trusts - Exemptions
  15. 40-18-25.2 · Estates and Trusts - Deductions from Gross Income of Net…
  16. 40-18-26 · Information from Source of Income
  17. 40-18-27 · Individual Taxpayer’s Returns; Liability of Innocent Spouse
  18. 40-18-28 · Returns of Subchapter K Entities and Single Member Limited…
  19. 40-18-29 · Fiduciary Returns
  20. 40-18-30 · Return When Accounting Period Changes
  21. 40-18-31 · Corporate Income Tax - Generally
  22. 40-18-31.1 · Election for Foreign Corporations to Classify Dividend…
  23. 40-18-31.2 · Factor Presence Nexus Standard for Business Activity
  24. 40-18-32 · Corporate Income Tax - Exemptions
  25. 40-18-33 · Corporate Income Tax - Taxable Income
  26. 40-18-34 · Additions Required by Corporations
  27. 40-18-35 · Deductions Allowed to Corporations
  28. 40-18-35.1 · Carry Forward of Net Operating Losses
  29. 40-18-35.2 · Deductions from Federal Taxable for Amounts Included in…
  30. 40-18-35.3 · Deductions from Federal Taxable for Amounts Included in…
  31. 40-18-36 · Distributions by Corporations
  32. 40-18-37 · Items Not Deductible by Corporations
  33. 40-18-38 · Additional Deductions Allowed for Corporations; Credits
  34. 40-18-39 · Corporate Returns
  35. 40-18-39.1 · Business Interest Expense Deduction Limitations
  36. 40-18-39.2 · Extension of Due Date for Taxpayers of Corporate Income…
  37. 40-18-40 · Tax to Be Reported on Forms; Department May Assess…
  38. 40-18-41 · Amortization of Ad Valorem Tax
  39. 40-18-42 · Time and Methods of Payment of Tax
  40. 40-18-42.1 · Revised Due Dates for Payments of Income Tax or Financial…
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