Screen ALGenC - Alabama Corporate Income Tax Return (1120)

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General Information

Exempt under Public Law 86-272
Corporations registered with the Alabama Secretary of State that are exempt under Public Law 86-272 are required to file an income tax return reporting no nexus, even if there was activity in Alabama. To apportion property, payroll and income items, access View > Apportionment and enter zeros where applicable in the Alabama columns.

Other Information

Federal net income for past three years
The application calculates the federal taxable income based on the active client data. Enter amounts to override the calculated amounts.

Contributions

Penny trust fund
Enter the amount of the overpayment elected to be contributed to the Penny Trust Fund. Once the return is filed with the state the election made to apply an overpayment to the next year’s estimated tax and/or contribute to the Penny Trust Fund, may not be changed.

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