Alabama § 40-16-9 Tax Credits Applied to State Portion of Tax Liability

Alabama Statutes

§ 40-16-9 — Tax Credits Applied to State Portion of Tax Liability

Alabama § 40-16-9

Title 40Revenue and Taxation

Ch. 16Financial Institution Excise Tax

This text of Alabama § 40-16-9 (Tax Credits Applied to State Portion of Tax Liability) 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 § 40-16-9 (2026).

Text

Notwithstanding any other laws to the contrary, other than the tax credits allowed by Section 40-16-8, any law enacting or amending a tax credit allowed to a financial institution against the financial institution excise tax imposed by this chapter which becomes effective on or after January 1, 2016, shall be applied only to the state portion of the tax liability and shall not offset or reduce the financial institution excise tax distribution made to municipalities and counties pursuant to Section 40-16-6.
This section does not amend, repeal, or supersede any financial institution excise tax credit in effect on December 31, 2015.

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Notwithstanding any other laws to the contrary, other than the tax credits allowed by Section 40-16-8, any law enacting or amending a tax credit allowed to a financial institution against the financial institution excise tax imposed by this chapter which becomes effective on or after January 1, 2016, shall be applied only to the state portion of the tax liability and shall not offset or reduce the financial institution excise tax distribution made to municipalities and counties pursuant to Section 40-16-6.
This section does not amend, repeal, or supersede any financial institution excise tax credit in effect on December 31, 2015.