Alabama property taxes are among the lowest in the United States. Taxes are calculated using your property's assessed value. This is determined by multiplying the appraised value by the corresponding property classification, which is also known as the assessment rate. Non - exempt business property is assessed at 20%.
Once the assessed value of your property has been determined, multiply it by the appropriate millage rate for the area in which your project will be located. Millage rates are determined by the county commissions and other taxing agencies.
A mill is one-tenth of one cent. (.001)
Assessed Value X Millage Rate=Unadjusted Tax Bill
Alabama's maximum corporate income tax rate is 6.5%; federal income taxes are deductible, reducing the effective rate to approximately 4.3%. Investments in pollution control equipment also are deductible in computing Alabama income. There are no minimum state income tax requirements. Net operating loss carry-forwards are permitted.
The maximum state income tax on an individual is 5%; federal income taxes paid are deductible in computing individual gross income. There are no occupational taxes in Walker County.
Business Privilege Tax:
The Alabama Business Privilege Tax is assessed on corporations and limited liability entities, and is calculated on net worth, an apportionment factor and a company’s federal taxable income in the state. The rate ranges from $0.25 to $1.75 per $1,000 of net worth. The minimum tax is $100, the maximum tax on manufacturers is $15,000.
Sales and Use Taxes:
The State of Alabama, Walker County and local municipalities assess sales taxes on the purchase of construction materials, furnishings and fixtures, as well as use taxes on the purchase of machinery and equipment.
Pollution controll equipment is exempt
Business License Fees:
A combined state/county business license is purchased at the Walker County Probate Office. The license fee varies based on the type of business and gross sales. Municipalities also assess business license fees based on business categories.
Building Permit Fees:
Projects locating within the City of Jasper need to obtain a building permit for new construction. Building permits can be issued in as little as 48 hours for most projects.
State of Alabama Taxes & Incentives Summary 2015: