Yes. In accordance with Rule 810-6-1-.144.03: All buyers of property for resale purposes are entitled to purchase at wholesale, tax-free, the property they resell as regular course of business when they have secured the sales tax license required by law. This rule also applies to retailers located outside Alabama when they have secured the sales tax license required by law in the state in which they are located.
Yes, a County Fuel Tax Account is needed if fuel is delivered into Bullock County, Cherokee County, Jackson County, Lowndes County, or Marshall County. If fuel is delivered into Cullman County, the Cullman County Gas Tax Account is needed. These counties can be included on the Motor Fuel Single Point template, or they can be filed directly through the CFT or CCG accounts in My Alabama Taxes, but not both. If a Motor Fuel Single Point template is uploaded that includes one of these counties and the appropriate account is not obtained, it will cause an error.
Yes, once the withdrawal is made, it would be taxable on your Alabama income tax return.
The rollover is exempt from Alabama income tax.
Yes, the amount withdrawn is added back to the contributing taxpayer’s return, plus a 10 percent penalty.
No, the money is not taxable as long as the money is used to pay for higher education expenses.
