Alabama Administrative Code
Title 810 - ALABAMA DEPARTMENT OF REVENUE
Chapter 810-2-8 - ALABAMA BUSINESS PRIVILEGE TAX AND CORPORATE SHARES TAX
Section 810-2-8-.07 - Definition Of Homeowners Association For Purposes Of Administering The Alabama Business Privilege Tax Law
Universal Citation: AL Admin Code R 810-2-8-.07
Current through Register Vol. 42, No. 11, August 30, 2024
(1) For purposes of administering the Alabama business privilege tax law levied by § 40-14A-22, Code of Ala. 1975, effective with business privilege taxable years beginning on or after January 1, 2009, and business privilege tax determination periods beginning on or after January 1, 2008:
(a) Entities which are formed by restrictive
covenant or a declaration of restrictions by the owners of real property in a
defined area which are united as a nonprofit association to improve or maintain
the area's quality will be presumed to be exempt from the Alabama business
privilege tax as "homeowners associations" referred to in §
40-14A-43,
Code of Ala. 1975.
(b) The not-for-profit corporations referred
to as "property owners' associations" in §
40-14A-22,
Code of Ala. 1975, will be treated as "homeowners
associations," as referred to in §
40-14A-43,
and will be exempt from the Alabama business privilege tax.
(c) A unit owners' association organized
under the Alabama Uniform Condominium Act will be treated as a homeowners
association in accordance with §
40-14A-43,
if the association is a nonprofit entity.
(d) For-profit entities are not presumed to
be homeowners associations for purposes of the Alabama business privilege tax
exemption provided for in §
40-14A-43,
Code of Ala. 1975.
Authors: Voncile Catledge, Ed Cutter
Statutory Authority: Code of Ala. 1975, §§ 40-2A-7(a)(5), 40-14A-22, 40-14A-43.
Disclaimer: These regulations may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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