| ALABAMA |
| Name |
Must contain words Incorporated, Corporation, Inc., Corp., Limited Liability Company or L.L.C. Banking corporations may use words bank, banking or bankers. |
| Information about Directors and Officers |
Company must have at least one Director who is at least 19 years old. No requirements for residence. One director can hold all officer positions. It is not required to list Directors or Officers in the Articles of Incorporation. |
| Requirements for address |
Home or Office street can be considered as company address. P.O. Box is not admissible. |
| Registered Agent |
Registered Agent is not required in Articles of Incorporation. |
| Shares/Stock information |
Number of shares is a matter of discretion. Initial filing fees do not change with an increase in shares or par value. Share tax is based upon 0.133% of taxable net worth limited to a maximum of $125,000. There is no minimum shares tax. |
| Annual statement |
Alabama requires that a combination Business Privilege Tax Return/Corporate Tax Return and Annual Report be filed each year on or before March 15th. The fees for this filing are dependent upon a Corporation's net worth. Annual statement is required as a part of Form PSA. Annual Registration fee of $10 for $25,000 or less stock. Fee increases if capital shares do. |
| State fees |
$85. It includes payment for the Judge of Probate and the Secretary of State. |
| Income tax rate |
6.5% of net income. |
| Franchise tax |
$10 per $1,000 of capital Stock. Minimum Franchise tax is $50. |
| S Corporations |
$10 per $1,000 of capital Stock. Minimum Franchise tax is $50. |
| License requirements |
Status is recognized by the State. Separate State election from the federal election is not required. |
| Corporate records |
Some businesses must obtain a license and pay a fee if operating in the State. Check with the State to make sure your business is complying with the license requirements for your particular profession. |
