Alabama DOR Releases Updates to S Corporations FAQs

The Alabama Department of Revenue (DOR) updated its previously released guidance on S Corporations, providing information on: 1) when composite returns are due, whether nonresidents may opt out of composite filing, when S Corporation returns are due, and whether estimated payments are required; and 2) whether composite payments made on behalf of an estate/trust by a partnership may be claimed on the Alabama Form 41, whether taxpayers may claim federal estate taxes paid as a deduction on Form 41, and whether federal income tax paid on federal Form 1041 be claimed as a deduction on the Alabama Form 41. [Ala. ...