Alabama § 40-16-9 - Tax Credits Applied to State Portion of Tax Liability.
Full text of Alabama Code of Alabama § 40-16-9 — Tax Credits Applied to State Portion of Tax Liability., with citation guidance and answers to common questions.
§ 40-16-9. Tax Credits Applied to State Portion of Tax Liability.
Notwithstanding any other laws to the contrary, other than the tax credits allowed by Section 40-16-8, any law enacting or amending a tax credit allowed to a financial institution against the financial institution excise tax imposed by this chapter which becomes effective on or after January 1, 2016, shall be applied only to the state portion of the tax liability and shall not offset or reduce the financial institution excise tax distribution made to municipalities and counties pursuant to Section 40-16-6.
This section does not amend, repeal, or supersede any financial institution excise tax credit in effect on December 31, 2015.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 40-16-9
What does Code of Alabama § 40-16-9 cover?
Section 40-16-9 ("Tax Credits Applied to State Portion of Tax Liability.") 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 § 40-16-9?
A common citation format is "Code of Alabama § 40-16-9" (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 § 40-16-9 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.