810-2-4-.21 Corporations Paying Taxes Need not File List of Shareholders. (REPEALED) (1) Scope. This regulation applies to the waiver of corporations agreeing to pay shares tax, from filing a list of shareholders, under Section 40-14-73, Code of Alabama 1975. (2) Definitions. The following terms have the meanings ascribed to them for purposes of this regulation. (a) Domestic Corporation. A corporation for profit, which is not a foreign corporation, incorporated under the laws of the state of Alabama. (b) Tax Year. The ad valorem tax year, October 1 through September 30. (3) Purpose. The purpose of this regulation is to establish a specific procedure for the waiver of a corporation agreeing to pay the shares tax from filing a list of its shareholders. (4) Procedure. Pursuant to Section 40-14-73, if a Domestic Corporation by endorsement on its tax return or otherwise in writing shall agree to pay the taxes, if any, assessed on the shares for its shareholders, it need not file a list of such shareholders as otherwise required under Section 4014-70. (5) Effective Date. This regulation applies to domestic corporations with shares of stock subject to assessment for the ad valorem tax year beginning October 1, 1996, and all tax years thereafter.
Author: Authority: History:
Michael E. Mason, Ken Rouse Section 40-2A-7(a)(5), Code of Alabama 1975 and Act 96-551, Section 2 Regulation adopted August 27, 1996, effective October 1, 1996.