# Ala. Code § 40-16-5.1: Section 40-16-5.1 Payment of Estimated Financial Institution Excise Taxes

> Alabama · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-5.1

## Section

- **Citation:** Ala. Code § 40-16-5.1
- **Heading:** Section 40-16-5.1 Payment of Estimated Financial Institution Excise Taxes
- **Jurisdiction:** Alabama
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Alabama Code / Title 40 / Chapter 16 / Section 40-16-5.1

## Text

(a) Financial institutions shall pay estimated financial institution excise tax in accordance with 26 U.S.C. § 6655, except the provisions of 26 U.S.C. § 6655(g)(1)(A)(ii) through (iii) shall not apply. The balance of the tax owed, after reduction by the credits allowed by this chapter, and by prior payments including estimated payments as provided in this section, shall be due and paid at the same time as the due date of an original return.

(b) For the purposes of this section:

(1) Section 40-16-4 shall be substituted when 26 U.S.C. § 6655 refers to Chapter 1;

(2) Section 40-16-4 shall be substituted when 26 U.S.C. § 6655 refers to Section 11;

(3) The terms section 1201(a) and Subchapter L of Chapter 1 referred to in 26 U.S.C. § 6655(g)(1)(A)(i) shall be ignored for Alabama excise tax purposes;

(4) Section 40-16-8 shall be substituted when 26 U.S.C. § 6655(g)(1)(B) refers to Part IV of Subchapter A of Chapter 1;

(5) The term carrybacks referred to in 26 U.S.C. § 6655(g)(2)(B)(iii) shall be ignored for Alabama excise tax purposes;

(6) Commissioner shall be substituted when 26 U.S.C. § 6655 refers to Secretary.

## Nearby sections

- [Ala. Code § 40-16-1 Section 40-16-1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-1.md)
- [Ala. Code § 40-16-1.1 Section 40-16-1.1 Taxation of Trust as Financial Institution](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-1.1.md)
- [Ala. Code § 40-16-1.2 Section 40-16-1.2 Additional Items Included in Federal Taxable Income; Items Deducted from Federal Taxable Income](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-1.2.md)
- [Ala. Code § 40-16-1.3 Section 40-16-1.3 Net Income of Credit Unions](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-1.3.md)
- [Ala. Code § 40-16-2 Section 40-16-2 Production Credit Associations Taxable Under Chapter](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-2.md)
- [Ala. Code § 40-16-3 Section 40-16-3 Returns](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-3.md)
- [Ala. Code § 40-16-3.1 Section 40-16-3.1 Extension of Due Date for Taxpayers of Financial Institution Excise Tax, Tax Years Beginning on or After January 1, 2021](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-3.1.md)
- [Ala. Code § 40-16-4 Section 40-16-4 Levy; Reporting of Tax; Promulgation of Rules](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-4.md)
- [Ala. Code § 40-16-5 Section 40-16-5 When Tax Due; Extension of Time for Payment](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-5.md)
- [Ala. Code § 40-16-5.1 Section 40-16-5.1 Payment of Estimated Financial Institution Excise Taxes](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-5.1.md)
- [Ala. Code § 40-16-6 Section 40-16-6 Remittance and Disposition of Tax](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-6.md)
- [Ala. Code § 40-16-8 Section 40-16-8 Exemptions and Credits](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-8.md)
- [Ala. Code § 40-16-9 Section 40-16-9 Tax Credits Applied to State Portion of Tax Liability](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-9.md)
- [Ala. Code § 40-16-10 Section 40-16-10 Computation of Net Income of Financial Institutions](https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-10.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AL_T40_C16_S40-16-5.1. Check the current official text before relying on it. Not legal advice.