Alabama § 40-14A-32 - (Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions.
Full text of Alabama Code of Alabama § 40-14A-32 — (Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions., with citation guidance and answers to common questions.
§ 40-14A-32. (Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions.
The tax levied by this article shall not apply to:
(1) Financial institutions, as defined in Section 40-16-1, that are subject to the provisions of Chapter 16 as to the excise taxes levied on financial institutions;
(2) Insurance companies that are subject to the premium taxes levied by Chapter 4A of Title 27;
(3) Corporations, limited liability entities, companies, or associations whose property is assessed for taxation pursuant to the provisions of Chapter 21 and are also obligated to serve the general public;
(4) Real estate investment trusts as defined in Chapter 13 of Title 10; and
(5) Any corporation organized as a not-for-profit corporation that does not engage in any business other than holding title to property and paying the expenses thereof, including, without limitation, a property owner’s association or a corporation organized solely to hold title to property on a temporary basis.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 40-14A-32
What does Code of Alabama § 40-14A-32 cover?
Section 40-14A-32 ("(Repealed for Taxable Years Beginning on or After January 1, 2002.) Exemptions.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 40-14A-32?
A common citation format is "Code of Alabama § 40-14A-32" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 40-14A-32 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.