Alabama § 40-23-108 Disposition of Funds

Alabama Statutes

§ 40-23-108 — Disposition of Funds

Alabama·Title 40 Revenue and Taxation·Ch. 23 Sales and Use Taxes·Art. 3 Taxes on Sale, Storage, and Use of Automotive Vehicles, Motorboats, Truck Trailers, Etc

The licensing official shall, after the deduction of the fee as provided in Section 40-23-107, remit the revenue collected hereunder to the Department of Revenue for deposit as follows:
Of the total two cents ($.02) tax on each dollar of sale, 58% of the total tax generated shall be deposited to the credit of the Education Trust Fund; and 42% of the total tax generated shall be deposited to the credit of the State General Fund. Provided, however, of the total of those funds derived from the state sales and use taxes collected on motorboats, 50 percent shall be paid to the State General Fund and 50 percent to the Education Trust Fund.

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The licensing official shall, after the deduction of the fee as provided in Section 40-23-107, remit the revenue collected hereunder to the Department of Revenue for deposit as follows:
Of the total two cents ($.02) tax on each dollar of sale, 58% of the total tax generated shall be deposited to the credit of the Education Trust Fund; and 42% of the total tax generated shall be deposited to the credit of the State General Fund. Provided, however, of the total of those funds derived from the state sales and use taxes collected on motorboats, 50 percent shall be paid to the State General Fund and 50 percent to the Education Trust Fund.

Alabama § 40-23-108 (Disposition of Funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(Acts 1981, No. 81-665, p. 1086, §9; Acts 1988, 1st Ex. Sess., No. 88-867, p. 265, §6; Acts 1994, No. 94-622, p. 1162, §8; Act 99-650, 2nd Sp. Sess., p. 96, §1.)