§ 40-18-340 — Definitions

Alabama § 40-18-340

• Jurisdiction: Alabama
• Title 40: Revenue and Taxation
• Ch. 18: Income Taxes
• Art. 14: Irrigation Equipment Tax Credit

Text

REPEALED BY ACT 2023-546, EFFECTIVE DECEMBER 1, 2028 UNLESS EXTENDED BY AN ACT OF THE LEGISLATURE.
As used in this article, the following terms shall have the following meanings:
(1) AGRICULTURAL TRADE OR BUSINESS. Any trade or business described in the 2007 North American Industry Classification System, Sector 11, and includes such trades or businesses that may be hereafter reclassified in any subsequent publication of the North American Industry Classification System.
(2) OFF-STREAM UPLAND RESERVOIR. A reservoir that does not dam the stream and is not built within the stream bed or wetlands.
(3) QUALIFIED IRRIGATION EQUIPMENT. Equipment used by agricultural trade or business in irrigation systems, including but not limited to equipment used to construct irrigation systems and water wells.
(4) QUALIFIED RESERVOIR. An off-stream upland reservoir used as a source of water for irrigation by an agricultural trade or business.

Legislative History

(Act 2012-391, p. 1049, §1.)