Alabama Code 40-14A-41. Applicability to certain entities organized before January 1, 1999
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Terms Used In Alabama Code 40-14A-41
- Contract: A legal written agreement that becomes binding when signed.
The taxes levied by this chapter shall not apply to any entity that was organized before January 1, 1999, was not subject to the franchise tax levied by former Chapter 14 of this title, and is entitled, pursuant to a contract entered into before January 1, 1999, to be indemnified for taxes upon net worth resulting from transactions or activities contemplated in the contract.