In the case of a corporation subject to the tax imposed by Section 40-18-31, the term “taxable income” means federal taxable income without the benefit of federal net operating losses plus the additions prescribed and less the deductions and adjustments allowed by this chapter and as allocated and apportioned to Alabama.
Ala. Code § 40-18-33
Corporate Income Tax - Taxable Income.
(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §400; Act 98-502, p. 1083, §1; Act 99-664, 2nd Sp
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.