Section 40-18-1

Definitions.

For the purpose of this chapter, the following terms shall have the respective meanings ascribed by this section:

(1) CASH. Any legal tender, negotiable paper, or solvent credit.

(2) CORPORATION. The term includes associations and joint stock companies.

(3) DOMESTIC. When applied to a corporation means created or organized under the laws of the State of Alabama.

(4) FIDUCIARY. A guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person.

(5) FISCAL YEAR. An accounting period of twelve months ending on the last day of any month other than December.

(6) FOREIGN. When applied to a corporation means created or organized outside of the State of Alabama.

(7) HEAD OF FAMILY. As used in this chapter, the term "head of family" has the same meaning as the term "head of household" as defined in 26 U.S.C. §2(b).

(8) PAID. For the purpose of deductions and credits hereinafter provided for with respect to income tax means paid or accrued or paid or incurred, and the terms "paid or accrued" and "paid or incurred" shall be construed according to the method of accounting on the basis of which the net income is computed under this chapter.

(9) PERSON. Any individual, trust, estate, private corporation, association, or partnership.

(10) REPORT FROM SOURCE. All individuals, corporations, associations, and partnerships, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all other officers and employees of the state or of any municipal corporation or political subdivision of the state having control, receipt, custody, or payment of interest, rent, salaries, wages, premiums, annuities, compensation, remunerations, emoluments, or other fixed or determinable annual or periodical gains, profits and income taxable under this chapter.

(11) SUBCHAPTER K ENTITY. A partnership, including a limited partnership or limited liability partnership, limited liability company, or any other entity subject to subchapter K of the Internal Revenue Code, 26 U.S.C. §§701 to 761, for federal income tax purposes.

(12) TAXABLE YEAR. The calendar year or the fiscal year ending during the calendar year upon the basis of which net income is computed, or a period of less than twelve months resulting from a change in accounting period as provided in Section 40-18-30.

(13) TAXPAYER. Any person subject to a tax imposed by this chapter, or whose income is, in whole or in part, subject to a tax imposed by this chapter.

(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §373; Acts 1985, No. 85-515, §4; Acts 1990, No. 90-583, p. 988, §1; Acts 1997, No. 97-625, §3; Act 2001-1088, 4th Sp. Sess., p. 1095, §1.)