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Alabama Free Printable BPT-IN TY 2024 Print Version NEW_6-14-23_F for 2024 Alabama Alabama Business Privilege Tax Initial Privilege Tax Return

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Alabama Business Privilege Tax Initial Privilege Tax Return
BPT-IN TY 2024 Print Version NEW_6-14-23_F

FORM BPT-IN 2024 *240001BN* Alabama Department of Revenue Alabama Business Privilege Tax Initial Privilege Tax Return Initial Privilege Tax – This form is to be completed ONLY by taxpayers who incorporated, organized, qualified, registered or started doing business in Alabama in 2024. NOTE: Initial returns must be filed within 2-1/2 months of incorporation, organization or qualification. See the detailed instructions on the Alabama Department of Revenue Web site (www.revenue.alabama.gov). Type of taxpayer (check only one): • • 1g. • 1a. C Corporation 1d. LLE Taxed as Corporation 1e. 1b. S Corporation 1h. • • • Insurance Company 1c. Real Estate Investment Trust 1f. Limited Liability Entity 1i. • • • Financial Institution Group Member Business Trust Disregarded Entity DO NOT FILE FORM BPT-IN AS AN ANNUAL RETURN 3b. FEIN • 3d. SECRETARY OF STATE ENTITY ID NO. (SEE SOS.ALABAMA.GOV) 3f. MAILING ADDRESS • 3g. CITY • 4a. CONTACT PERSON CONCERNING THIS FORM 4a. TAXPAYER’S E-MAIL ADDRESS • FEIN NOT REQUIRED •  (SEE INSTRUCTIONS) • Please enter the date the entity incorporated, organized, qualified or registered in Alabama or started doing business in Alabama, whichever occurred first: 2a. Date of Qualification, Incorporation or Organization TAXPAYER INFORMATION 3a. LEGAL NAME OF BUSINESS ENTITY • Enter Month of Tax Year End • (mm/dd/yyyy) 3c. BPT ACCOUNT NO. (SEE INSTRUCTIONS) • 3e. FEDERAL BUSINESS CODE NO. (NAICS) (SEE SOS.ALABAMA.GOV) 3h. STATE • •  No Alabama Factor Presence Nexus (This option 2b. • is only available for entities formed or organized outside the State of Alabama) 3i. ZIP CODE • 4b. CONTACT PERSON’S PHONE NO.• • 5a. 5b. 6a. 6b. 6c. 6d. 7a. 7b. 7c. 7d. 8a. 8b. 8c. 8d. 9a. 9b. 9c. 9d. 10. 11. County of incorporation or organization for all Alabama entities . . . . . . . . . . . . . . State or country of incorporation or organization for all foreign entities . . . . . . . . . Date of qualification or registration in Alabama for foreign entities . . . . . . . . . . . . Date of incorporation or organization for all entities . . . . . . . . . . . . . . . . . . . . . . . Date started doing business in Alabama . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Telephone number of the taxpayer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Name of registered agent in Alabama . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FEIN or social security number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Street address . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . City, state, and zip code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Name of corporate president or primary member/partner . . . . . . . . . . . . . . . . . . . Social security number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Street address . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . City, state, and zip code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Name of corporate secretary or secondary member/partner. . . . . . . . . . . . . . . . . Social security number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Street address . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . City, state, and zip code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kind of business done in Alabama. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Principal place of business in Alabama . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . City, state, and zip code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. Kind of business done generally . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. Mailing address of the principal place of business if outside State of Alabama . . . City, state, and zip code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5a 5b 6a 6b 6c 6d 7a 7b 7c 7d 8a 8b 8c 8d 9a 9b 9c 9d 10 11 12 13 COMPUTATION OF AMOUNT DUE 14. Privilege tax due (Page 2, Part B, line 20). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 • 15. Penalty due (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 • 16. Interest due (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 • 17. Total privilege tax due (add lines 14, 15 and 16) (Form BPT-V must be submitted if payment is made by check) . . . . . . . . . . . . . . . . . . 18. Family LLE Election: • (Signature required below) • Please Sign Here • Amount Due 17 •    I authorize a representative of the Department of Revenue to discuss my return and attachments with my preparer. Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Title Date Your Signature Paid Preparer’s Use Only • • ZIP Code• Preparerʼs signature Date Firmʼs name (or yours, if • self-employed) and address E.I. No. • Phone No. • Preparerʼs SSN/PTIN • ADOR BPT-IN 2024 *240002BN* Alabama Department of Revenue FORM Alabama Business Privilege Tax Initial Privilege Tax Return PAGE 2 1a. FEIN 1b. LEGAL NAME OF BUSINESS ENTITY 1c. DATE OF QUALIFICATION, ORGANIZATION OR  INCORPORATION (MM/DD/YYYY) Part A – Net Worth Computation. Complete I, II or III only. I. Corporations & Entities Taxed as Corporations 1. Issued capital stock and any additional paid in capital, but without reduction for treasury stock. . . . . . . . . 1 • 2. Retained earnings, but not less than zero, including dividends payable. For LLC’s taxed as corporations and non-stock issuing entities such as business trusts, enter assets minus liabilities . . . . . . 3. Gross amount of related party debt exceeding the sum of lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . 4. For C corporations, all payments for compensation or similar amounts in excess of $500,000 . . . . . . . . . 5. For S corporations, all payments for compensation, distributions or similar amounts in excess of $500,000 2 3 4 5 • • • • 6. Total net worth (add lines 1 - 5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 • II. Limited Liability Entities (LLE’s) 7. Sum of the partners’/members’ capital accounts, but not less than zero . . . . . . . . . . . . . . . . . . . . . . . . . . 8. All compensation, distributions, or similar amounts paid to each partner/member in excess of $500,000 . . 9. Gross amount of related party debt exceeding the amount of line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 • 8 • 9 • 10. Total net worth (add lines 7, 8 and 9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 • III. Disregarded Entities 11. Single Member Name: • FEIN/SSN: • 12. If a disregarded entity has as its single member a taxpayer that is subject to the privilege tax, then the disregarded entity does not have a filing requirement.. (Go to Part B, line 20.) 13. Assets minus liabilities for all disregarded entities that have as a single member an entity that is not subject to the privilege tax (attach documentation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. Gross amount of related party debt exceeding the amount on line 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 • 14 • 15. For disregarded entities, all compensation, distributions, or similar amounts paid to each member in excess of $500,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 • 16. Total net worth (add lines 13, 14, and 15 and go to Part B, line 1.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 • Part B – Privilege Tax Exclusions and Deductions Exclusions (Attach supporting documentation) (See instructions) 1. Net worth from Part A – line 6, 10, or 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. Book value of the investments by the taxpayer in the equity of other taxpayers . . . . . . . . . . . . . . . . . . . . 1 • 2 • 3. Financial institutions only – Book value of the investments in other corporations or LLE’s if the taxpayer owns more than 50% of the corporation or LLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. Unamortized portion of goodwill and core deposit intangibles resulting from a direct purchase . . . . . . . . . 5. Unamortized balance of properly elected post-retirement benefits pursuant to FASB 106 . . . . . . . . . . . . . 6. Financial institutions only – The amount adjusted net worth that exceeds 6% of assets . . . . . . . . . . . . . . 3 • 4 • 5 • 6 • 7. Total exclusions (sum of lines 2 - 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. Net worth subject to apportionment (line 1 less line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. Alabama Apportionment Factor as of date of organization, incorporation or qualification . . . . . . . . 9 • 7 • 8 • .       % 10. Total Alabama net worth (multiply line 8 by line 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 • Deductions (Attach supporting documentation) (See instructions) 11. Net investment in bonds and securities issued by the State of Alabama or political subdivision thereof, when issued prior to January 1, 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. Net investment in all air, ground or water pollution control devices in Alabama . . . . . . . . . . . . . . . . . . . . . 11 • 12 • 13. Reserves for reclamation, storage, disposal, decontamination, or retirement associated with a plant, facility, mine or site in Alabama . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. Book value of amount invested in qualifying low income housing projects (see instructions) . . . . . . . . . . . 13 • 14 • 15. Total deductions (add lines 11 - 14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. Taxable Alabama net worth (line 10 less line 15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. Tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 • .00025 18. Gross privilege tax calculated (multiply line 16 by line 17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. Ratio of the days remaining in the Tax year divided by 365 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 • 15 • 16 • 18 • .       % 20. Privilege Tax Due (Multiply line 18 by line 19) If $100 or less, STOP. You do not have a filing requirement. Do not submit return. For maximum see instructions. Enter also on Form BPT-IN, page 1, line 14, Privilege Tax Due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 • Make check payable to: Alabama Department of Revenue (Payment must be submitted with Form BPT-V, unless payment is made electronically) Mail to: Alabama Department of Revenue, Business Privilege Tax Section P.O. Box 327320, Montgomery, AL 36132-7320 ADOR
Extracted from PDF file 2024-alabama-form-bpt-in.pdf, last modified June 2023

More about the Alabama Form BPT-IN Individual Income Tax TY 2024

Newly organized corporation and limited liability entities can use the Form BPT-IN to file a tax return and pay the business privilege tax within two-months after being qualified

We last updated the Alabama Business Privilege Tax Initial Privilege Tax Return in January 2024, so this is the latest version of Form BPT-IN, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form BPT-IN directly from TaxFormFinder. You can print other Alabama tax forms here.

Related Alabama Individual Income Tax Forms:

TaxFormFinder has an additional 47 Alabama income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Alabama Form BPT-IN.

Form Code Form Name
Form BPT-IN (Instructions) Alabama Business Privilege Tax Initial Privilege Tax Return - Instructions

Download all AL tax forms View all 48 Alabama Income Tax Forms


Form Sources:

Alabama usually releases forms for the current tax year between January and April. We last updated Alabama Form BPT-IN from the Department of Revenue in January 2024.

Show Sources >

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Alabama Form BPT-IN

We have a total of three past-year versions of Form BPT-IN in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2024 Form BPT-IN

BPT-IN TY 2024 Print Version NEW_6-14-23_F

2022 Form BPT-IN

BPT-IN TY 2022 Print Version.qxp


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