Alabama § 40-14A-32 (Repealed for Taxable Years Beginning on or After January 1, 2002.)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§ 40-14A-32 — (Repealed for Taxable Years Beginning on or After January 1, 2002.)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

Title 40Revenue and Taxation

Ch. 14AAlabama Business Privilege and Corporation Shares Tax of 1999

Art. 3Shares Tax

This text of Alabama § 40-14A-32 ((Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 40-14A-32 (2026).

Text

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.