Alabama Administrative Code
Title 810 - ALABAMA DEPARTMENT OF REVENUE
Chapter 810-3-13 - NET INCOME OF INDIVIDUALS - COMPUTATIONS
Section 810-3-13-.02 - Maintenance Of Accounting Records

Universal Citation: AL Admin Code R 810-3-13-.02

Current through Register Vol. 42, No. 11, August 30, 2024

(1) Each taxpayer must maintain such accounting records as will clearly reflect his income for each accounting period, and must file his returns based on these records.

(2) If the taxpayer does not maintain such accounting records, or if such records do not clearly reflect the income or deductions of the taxpayer for any given taxable year, the Department may prescribe the method and basis for computation of such income. A taxpayer who does not keep adequate accounting records will be required to report his income on the calendar year basis and use the cash receipts and disbursements method of accounting.

(3) For record keeping requirements, see § 40-2A-7(a)(1), Code of Ala. 1975.

Authors: Rebecca S. Whisenant, Cynthia D. Norwood, Carmen Mills, Anne Glenn

Statutory Authority: Code of Ala. 1975, §§ 40-18-13, 40-1-5.

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