Statutes, codes, and regulations
Code of Alabama
Title 40 - REVENUE AND TAXATIONChapter 14A - ALABAMA BUSINESS PRIVILEGE AND CORPORATION SHARES TAX OF 1999
Article 4 - EXEMPTIONS
Section 40-14A-41 - Applicability to certain entities organized before January 1, 1999

Ala. Code § 40-14A-41

Download
PDF
Current through the 2024 Regular Session.
Section 40-14A-41 - Applicability to certain entities organized before January 1, 1999

The taxes levied by this chapter shall not apply to any entity that was organized before January 1, 1999, was not subject to the franchise tax levied by former Chapter 14 of this title, and is entitled, pursuant to a contract entered into before January 1, 1999, to be indemnified for taxes upon net worth resulting from transactions or activities contemplated in the contract.

Ala. Code § 40-14A-41 (1975)

Act 99-665, 2nd Sp. Sess., p. 131, §2.