Alabama State Tax Rulings
Free plain-English summaries of state tax letter rulings and advisory opinions issued in Alabama, with full citations and the original source on every page.
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If a company owns Industrial Development Board bonds that financed its own leased facility, can it still deduct that bond investment from its franchise-tax capital, and exclude the bond interest from income tax — even after paying big dividends to its parent and even though it borrowed the money to buy the bonds?
Yes to all. In a large Industrial Development Board (IDB) bond-financed manufacturing deal, the Taxpayer owned the IDB's bonds (bought with capital contributed — and partly borrowed — by its parent) a…
An Industrial Development Board leased property to a company before Alabama's 1992 Tax Incentive Reform Act, but the company forgot to give the written notice needed to renew the lease. Does missing that notice make the property taxable, or does the pre-1992 tax exemption continue?
The exemption continues. Company A leased Industrial Development Board (IDB) property under a 1976 lease with a written option to renew by about November 1, 1991. It forgot to give the written renewal…
If an Industrial Development Board buys new equipment to replace worn-out equipment at a facility it leased to a company before Alabama's 1992 Tax Incentive Reform Act took effect, is the replacement equipment still exempt from ad valorem (property) tax?
Yes. The Department held that the replacement equipment is exempt from all taxation. Company A leased an Industrial Development Board-owned brick-manufacturing facility under a 1989 lease — before the…
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These are official tax letter rulings and advisory opinions issued by Alabama's revenue authority in response to questions from specific taxpayers about how the tax law applies to their facts. A ruling is binding on the department only for the taxpayer who requested it and cannot be relied on by anyone else, but it is strong evidence of how the state reads the law. Every ruling above has a plain-English question and short answer, plus a link to the full original source.