Section 40-18-44 Installment method. - Alabama Statutes

Section 40-18-44

Installment method.

Income arising from an installment sale (including the sale by a dealer in personal property) may be reported in accordance with 26 U.S.C. §453, provided that the amendment made to said Section 453 by the Tax Reform Act of 1984 (Pub. L. No. 98-369), adding 26 U.S.C. §453(i), shall not apply. The Department of Revenue shall prescribe regulations relating to the election to report on the installment method or not to report on the installment method.

(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §411; Acts 1985, No. 85-515, p. 517, §20; Acts 1990, No. 90-583, p. 988, §11.)