Alabama Form 2106 2024-2025

Alabama Form 2106: What You Should Know

The form is available for: individuals who are not exempt from state tax individuals living in Alabama in-state taxpayers Business Privilege Tax Return and Annual Report for C-Corporations and Other Specified Entities, 2022 This form is used by the state to assess, collect and remit Alabama business privilege tax on the following. Income of all persons or entities which are a qualifying taxpayer and: • is an entity which is a corporation, • is an unincorporated small business, • is a nonprofit entity for purposes of section 501(c)(4) of the Internal Revenue Code, • is a nonprofit entity qualified under a Section 501(c)(7) of the Internal Revenue Code or • is a non-profit entity qualified under a Section 501(c)(4) of the Internal Revenue Code The amount of business privilege tax imposed is determined by the rate of tax due, the tax rate as set in the Alabama Property Tax Code, and the amount of tax due per full-time equivalent (FTE) employed at a place of business that qualifies for special rate treatment under the Alabama Property Tax Code. In addition, the Alabama Property Tax Code requires the tax to be assessed in the same manner as federal and state tax liability. The Alabama Property Tax Code identifies: • CPT for qualified performing artists • FTE for full time equivalents • Qualifying business enterprises Federal Income Tax All tax liability for federal tax is imposed on gross income. Any noncash itemized deduction or credit to which you are entitled (other than an itemized deduction for charitable contributions made to a qualified charitable organization), also is subject to federal tax. The Alabama Property Tax Code does not apply to federal tax. (See Alabama Property Tax Code, Title 25, Chapter 2, Part 7 and Code of Alabama, Title 29, Chapter 4, Section 19.1 for applicable federal tax law.) Alabama Property Tax Code Section 30-1-3, Ala. Code 1975 For more information, you may call and ask for the Alabama Tax Division. Form CPT is used by people and businesses to determine their taxable income and their business privilege tax payments. The form also may be used for federal tax purposes.

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