Alabama
Corporate Name Endings
* The name of the corporation shall contain the word "corporation"
or "incorporated" or an abbreviation. If the corporation is a
banking corporation the words "bank," "banking" or "bankers" may
be used. The name may not contain language stating or implying
that the corporation is organized for a purpose other than that
permitted by the articles of incorporation. The name cannot be the
same as or deceptively similar to the corporate name of a domestic
corporation or a foreign qualified corporation.
Articles of Incorporation Requirements
* Director Information
* Minimum Number - One or more
* Residence Requirements. - None
* Age Requirements - Directors must be natural person of the
age of at least nineteen of age
* Directors are not required to be listed in the articles of
incorporation.
* Officer Information
* The officers are not required to be listed in the articles of
incorporation.
* Stock Information
* An increase in the amount of shares of stock does not
increase fees.
Yearly Requirements
* Annual Statements
* Each domestic corporation and each foreign corporation
authorized to transact business in Alabama must file an
annual report with the Secretary of State between January 1
and March 15 accompanied by a $10 fee to the Secretary of
State. The first annual report of a domestic or foreign
corporation must be filed between January 1 and March 15 of
the year following the year in which a domestic corporation
was incorporated or a foreign corporation was authorized to
transact business.
* Tax Rate
* Annual franchise tax
* Liability. Every domestic corporation and every foreign
corporation doing business in Alabama must pay $10 per $1,000
of capital stock. Minimum tax is $50. New domestic
corporations organized after June 30 pay half year's tax.
Return and payment. To Department of Revenue, when organized;
and thereafter by March 15 annually. Initial franchise taxes
are due within 30 days after organization Penalties include
not more than 25% of the tax due plus 1% a month for
lateness.
* Annual registration fee (corporation permit) payable to
Department of Revenue on incorporating and annually
thereafter on or before March 15. Application for permit is
filed when payment is made. Fee is based on capital stock
paid in as follows: $25,000 or less, $10; over $25,000 to and
including $50,000, $20; over $50,000 to and including
$100,000, $30; over $100,000 to and including 150,000, $50;
over $150,000, $100. No statutory rule covering no par
shares, but in practice same as shares having par value.
* Income Tax Rate: Rate. 5% of net income
For more information on taxes, visit www.ador.state.al.us
