The department shall proceed forthwith to examine the returns made by all persons, firms, and corporations required by law to make the same and also such information as the department may have obtained in addition thereto, shall determine the valuation of the different items of property required to be returned to it and shall assess such property for taxation at 30 percent of its reasonable value; and, in case no return has been made by or on behalf of such person, firm, or corporation on or before March 1 in each year, the department may add to the assessment which it makes against such person, firm, or corporation a penalty not exceeding 10 percent of the assessment as made therefor. The assessment herein required to be made shall be completed on or before July 1, or as soon thereafter as practicable, and reported to the tax assessor of every county in which any part of said tangible personal property is taxable under the provisions of this title. The report to the tax assessor shall contain a description of all property included in the assessment, the assessed value thereof, and an apportionment of the assessed value of such property to the county, to each municipality, to each special school district, and other districts levying a district tax within said county, with the name and residence or place of business of the owner thereof and all other information necessary to enable the tax assessor to set up such tax assessment upon the assessment books.
Structure Code of Alabama
Title 40 - Revenue and Taxation.
Chapter 21 - Public Utilities.
Article 1 - General Provisions.
Section 40-21-1 - Department of Revenue to Assess All Property; Applicability of Chapter.
Section 40-21-2 - Verified Statements to Be Filed.
Section 40-21-3 - Reports of All Property Required.
Section 40-21-4 - Detailed Requirements of Reports.
Section 40-21-5 - Reports of Individuals or Associations Not Incorporated.
Section 40-21-6 - Factors to Be Considered in Determining True Value of Entire Property.
Section 40-21-7 - Reports of Railroad Companies.
Section 40-21-8 - Returns of Telegraph and Telephone Companies Generally.
Section 40-21-9 - Details of Returns of Electric Power and Telegraph and Telephone Companies.
Section 40-21-10 - Details of Statements of Water, Gas and Pipeline Companies.
Section 40-21-11 - Sleeping, Parlor, Dining and Chair Car Companies.
Section 40-21-12 - Description of Real Property, Fixtures and Other Tangible Property Within State.
Section 40-21-13 - Total Length of Railroad Lines.
Section 40-21-14 - Statement of Property Outside State.
Section 40-21-15 - Statements of Express Companies.
Section 40-21-16 - Endorsement of Receipt of Statements; Requiring Additional Information.
Section 40-21-18 - Evidence and Witnesses Before Department.
Section 40-21-20 - What Considered in Arriving at Taxable Value of Property.
Section 40-21-21 - Franchises and Intangible Property Subject to Taxation.
Section 40-21-23 - Notice of Valuation Sent by Department.
Section 40-21-25 - Determining Tax Value of Franchises and Intangibles.
Section 40-21-26 - Local Taxes on Franchises and Intangibles.
Section 40-21-27 - Apportionment of Local Taxes.
Section 40-21-28 - Entry and Collection of Local Taxes.
Section 40-21-29 - Stockholders Not Required to List Shares or Pay Ad Valorem Taxes Thereon.
Section 40-21-30 - Description of Franchises and Intangibles.
Section 40-21-32 - Procuring Information From Other Sources When Taxpayer Fails to Comply.
Section 40-21-33 - Duties of Receivers, Assignees or Trustees in Bankruptcy.
Section 40-21-34 - Report of Commission to Assessors; Entries by Assessors.