Alabama § 40-14A-32 (Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions

Alabama Statutes

§ 40-14A-32 — (Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions

Alabama·Title 40 Revenue and Taxation·Ch. 14A Alabama Business Privilege and Corporation Shares Tax of 1999·Art. 3 Shares Tax

The tax levied by this article shall not apply to:

(1)Financial institutions, as defined in Section 40-16-1, that are subject to the provisions of Chapter 16 as to the excise taxes levied on financial institutions;

(2)Insurance companies that are subject to the premium taxes levied by Chapter 4A of Title 27;

(3)Corporations, limited liability entities, companies, or associations whose property is assessed for taxation pursuant to the provisions of Chapter 21 and are also obligated to serve the general public;

(4)Real estate investment trusts as defined in Chapter 13 of Title 10; and

(5)Any corporation organized as a not-for-profit corporation that does not engage in any business other than holding title to property and paying the expenses thereof, including, without limitation, a prop

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The tax levied by this article shall not apply to:
(1) Financial institutions, as defined in Section 40-16-1, that are subject to the provisions of Chapter 16 as to the excise taxes levied on financial institutions;
(2) Insurance companies that are subject to the premium taxes levied by Chapter 4A of Title 27;
(3) Corporations, limited liability entities, companies, or associations whose property is assessed for taxation pursuant to the provisions of Chapter 21 and are also obligated to serve the general public;
(4) Real estate investment trusts as defined in Chapter 13 of Title 10; and
(5) Any corporation organized as a not-for-profit corporation that does not engage in any business other than holding title to property and paying the expenses thereof, including, without limitation, a property owner’s association or a corporation organized solely to hold title to property on a temporary basis.

Alabama § 40-14A-32 ((Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.