Form 20c - Corporation Income Tax Return - Alabama Department Of Revenue - 2016 Page 2
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41600022C
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ALABAMA 20C – 2016
PAGE
Reconciliation Adjustments of Federal Taxable Income to Alabama Taxable Income
Schedule A
§40-18-33, Code of Alabama 1975, defines Alabama Taxable Income as federal taxable income without the benefit of the federal net operating loss plus specific
additions and less specific deductions. The specific additions and deductions are reflected in the lines provided below. Other reconciliation items include transition
adjustments to prevent duplicate deduction or duplicate taxation of items previously deducted or reported on Alabama income tax returns.
ADDITIONS
1 State and local income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
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2
2 Federal exempt interest income (other than Alabama) on state, county and municipal obligations (everywhere). . . . . . . . . . . . . . . . . . .
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3 Dividends from corporations in which the taxpayer owns less than 20 percent of stock to the extent properly deducted on
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federal income tax return (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Federal depreciation on pollution control items previously deducted for Alabama (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
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5 Net income from foreclosure property pursuant to §10A-10-1.21 (real estate investment trust).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
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6 Related members interest or intangible expenses or costs. From Schedule AB (see instructions).
Total Payments 6a •
minus Exempt Amount
6b •
equals
6c
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7 Captive REITS: Dividends Paid Deduction (from federal Form 1120-REIT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
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8 Contributions not deductible on state income tax return due to election to claim state tax credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
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9 •
9
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10
10 Total additions (add lines 1 through 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
DEDUCTIONS
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11 Refunds of state and local income taxes (due to overpayment or over accrual on the federal return) . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
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12 Interest income earned on direct obligations of the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
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13 Interest income earned on obligations of Alabama or its subdivisions or instrumentalities to extent included in
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federal income tax return (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 Interest income earned on obligations issued prior to 12/31/1994 of this state or its subdivisions or instrumentalities
14
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pursuant to §40-9B-7, to extent included in federal income tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15 Aid or assistance provided to the Alabama State Industrial Development Authority pursuant to §41-10-44.8(d) . . . . . . . . . . . . . . . . . . .
15
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16 Expenses not deductible on federal income tax return due to election to claim a federal tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
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17
17 Dividends described in 26 U.S.C. §78 from corporations in which taxpayer owns more than 20% of stock (see instructions) . . . . . . . . .
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18 Dividend income – more than 20% stock ownership (including that described in 26 U.S.C. §951) from non-U.S.
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corporations to extent dividend income would be deductible under 26 U.S.C. §243 if received from domestic corporations.. . . . . . . . . .
19 Dividends received from foreign sales corporations as determined in U.S.C. §922 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . .
19
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20 Interest portion of rent paid under lease agreements entered into prior to January 1, 1995, relating to obligations of this state and its
20
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subdivisions pursuant to §40-9B-7(c) through (e) (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21 Amount of the oil/gas depletion allowance provided by §40-18-16 that exceeds the federal allowance (see instructions) . . . . . . . . . . . .
21
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22 Additional Alabama depreciation related to Economic Stimulus Act of 2008 (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22
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25 Total deductions (add lines 11 through 24) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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26 TOTAL RECONCILIATION ADJUSTMENTS (subtract line 25 from line 10 above).
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Enter here and on line 3, page 1 (enclose a negative amount in parentheses) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Alabama Net Operating Loss Carryforward Calculation (§40-18-35.1, Code of Alabama 1975)
Schedule B
Column 1
Column 2
Column 3
Column 4
Column 5
Loss Year End
Amount of Alabama
Amount used in years
Amount used
Remaining unused
MM / DD / YYYY
net operating loss
prior to this year
this year
net operating loss
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Alabama net operating loss (enter here and on line 13, page 1).
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ADOR
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