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Alabama Grantor Statement of Income, Deductions, Credits (Form 41)
Extracted from PDF file 2024-alabama-schedule-g.pdf, last modified June 2023Grantor Statement of Income, Deductions, Credits (Form 41)
*240003CP* SCHEDULE G BUSINESS PRIVILEGE TAXABLE/FORM YEAR 2024 Alabama Department of Revenue Alabama Business Privilege Tax Financial Institution Group Computation Schedule Schedule G Must be Filed Only by Financial Institution Groups or Group Members FEIN LEGAL NAME OF BUSINESS ENTITY CHECK ONLY ONE BOX. Taxpayer has elected to file for federal purposes as a: • C Corporation - 1120 • C Corporation - 1120-F • S Corporation • Partnership • Trust CONSOLIDATED FILING ELECTION • Check box if electing to file a consolidated business privilege tax return in accordance with Section 40-14A-22(f), Code of Alabama 1975. • Check box if a member of a Financial Institution Group filing separately. FEIN of Common Parent: • TAX COMPUTATION IF ELECTING TO FILE A CONSOLIDATED RETURN 1 Total deposits inside Alabama for the entire Financial Institutional Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 • 2 Appropriate rate from deposit rate schedule (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 • 3 Alternative Minimum Privilege Tax (multiply line 1 by line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 • 4 Amount of tax liability from consolidated Form CPT, page 2, Part B, line 20 (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . 4 • 5 Amount due (the greater of line 3 or 4) Enter this same amount on Form CPT, page 1, line 5 (Privilege Tax Due) . . . . . . . 5 • . TAX COMPUTATION IF ELECTING TO FILE SEPARATELY 1 Total deposits inside Alabama for the entire Financial Institutional Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 • 2 Appropriate rate from deposit rate schedule (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 • 3 Alternative Minimum Privilege Tax (multiply line 1 by line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 • 4 This taxpayer's tax liability from Form CPT, page 2, Part B, line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 • 5 Sum of all group members’ tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 • 6 If line 5 is greater than line 3, enter line 4 here and skip to line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 • 7 If line 5 is less than line 3, divide line 4 by line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 • 8 Multiply line 7 by line 3 and enter the result. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 • 9 Amount due (the greater of line 6 or 8) Enter this same amount on Form CPT, page 1, line 5 (Privilege Tax Due) . . . . . . . 9 • . . % A listing of all Financial Institution Group members must be completed on page 2, Schedule G. See the instructions for Schedule G, Financial Institution Group Computation Schedule. See the instructions for Form CPT, Alabama Business Privilege Tax Return (for C-corporations and Other Specified Tax Entities). Additional Information Available at www.revenue.alabama.gov ADOR SCHEDULE G 2024 *240004CP* PAGE 2 A B NAME OF FINANCIAL INSTITUTION GROUP MEMBER C FEDERAL EMPLOYER IDENTIFICATION NO. (FEIN) C-CORP (SUBJECT TO ANNUAL REPORT) OR LLE (NOT SUBJECT TO ANNUAL REPORT) D DISREGARDED ENTITY/ OWNER’S FEIN • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) • • Corporation • LLE • Yes •( ) ADOR
Schedule G FY 2024_6-14-23_F
More about the Alabama Schedule G Corporate Income Tax Tax Credit TY 2024
We last updated the Grantor Statement of Income, Deductions, Credits (Form 41) in February 2024, so this is the latest version of Schedule G, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule G directly from TaxFormFinder. You can print other Alabama tax forms here.
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TaxFormFinder has an additional 47 Alabama income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form PTE-V (Obsolete) | Pass Through Entities Payment Voucher |
| Schedule D | Net Profit or Loss (Form 41) |
| Schedule K-1 (Form 20S) | Pass Through Shareholder’s Share of Income, Deductions, Credits, etc. (Form 20S) |
| Schedule K1 (Form 65) | Partnership Owner’s Share of Income, Deductions, Credits, etc (Form 65 K-1) |
| Form 65 | Partnership / Limited Liability Company Return of Income |
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 Schedule G from the Department of Revenue in February 2024.
Schedule G is an Alabama Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Alabama Schedule G
We have a total of thirteen past-year versions of Schedule G in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2024 Schedule G
Schedule G FY 2024_6-14-23_F
2023 Schedule G
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2022 Schedule G
Schedule G FY 2022.qxp
2011 Schedule G
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