No carryforward and no carryback arising for a taxable year for which a corporation is not an Alabama S corporation may be carried to a taxable year which such corporation is an Alabama S corporation. No carryforward and no carryback shall arise at the corporate level for a taxable year for which a corporation is an Alabama S corporation. Nothing in this section shall prevent treating a taxable year for which a corporation is an Alabama S corporation as a taxable year for purposes of determining the number of taxable years to which an item may be carried back or carried forward.
Structure Code of Alabama
Title 40 - Revenue and Taxation.
Article 6 - Alabama S Corporations.
Section 40-18-160 - General Provisions.
Section 40-18-161 - Determination of Taxable Income.
Section 40-18-162 - Determination of Tax of Shareholder.
Section 40-18-164 - Increase or Decrease in Basis of Shareholder's Stock; Special Rules.
Section 40-18-165 - Distribution of Property Generally.
Section 40-18-167 - Applicability of Chapter.
Section 40-18-168 - "Carryforward" and "Carryback" Provisions.
Section 40-18-169 - Adjustments to Earnings and Profits.
Section 40-18-171 - Determination of Shareholder's Pro Rata Share; "Affected Shareholders" Defined.
Section 40-18-172 - "Post-Termination Transition Period" and "Determination" Defined.
Section 40-18-173 - Interpretation of Article Generally.
Section 40-18-174 - Tax Imposed on Certain Built-in Gains.
Section 40-18-176 - Nonresident Shareholder Composite Returns.