(Not Effective After December 31, 1999) Amount of Levy on Domestic Corporations.
Applied in 1 court decision — leading case Vulcan Lands, Inc. v. Surtees (2007)
Most recently applied in Vulcan Lands, Inc. v. Surtees (November 2007)
(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §347; Acts 1955, 2nd Ex
Every corporation organized under the laws of this state, except strictly benevolent, educational, or religious corporations, shall pay annually to the state an annual franchise tax based on its capital stock as follows:
For the tax year beginningRate on each $1,000 of capital stock January 1, 1984$10 And all tax years thereafter$10 provided that in no event shall the amount paid by any corporation for annual franchise tax be less than the sum of $50.
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.