The Alabama legislature recently passed a new law that became effective August 1, 2008. Details and forms needed for compliance can be found by clicking on Act No. 2008-504.
What Does The Act Require? The buyer of a property located in Alabama, which has been obtained by sale or transfer from a nonresident of Alabama, is responsible for withholding a percentage of the sales price (or gain) and remitting to the Commissioner of Revenue of the State of Alabama on behalf of the seller. This also includes any related tangible personal property.
What If The Buyer Fails To Withhold? He becomes personally liable for the amount of tax and the purchased property is subject to a lien from the Alabama Department of Revenue.
When Is A Seller Exempt From Having Tax Withheld? A seller that meets all of the following and executes a sworn affadavit may claim an exemption by meeting the requirements to be considered a resident.
* The seller has filed an Alabama tax return for the two prior years
* The seller affirms the proceeds of the sale will be reported on the current year Alabama tax return and shall be filed on time
* If the seller is an Alabama business, the intention to continue substantially the same business in Alabama must be affirmed, and the assessed value of their real property that remains in the state after the transaction is completed is greater than the tax liability on the transaction
* If the seller is a corporation or limited partnership it must be registered to do business in Alabama
Are There Any Other Transactions Which May Be Exempt? Yes! Click here for exempt transactions.
Questions? FAQs and answers can be found here

Courtesy of Ann Allen, e-Pro, SRES, ASP
205.902.4868
Keller Williams
One Chase Corporation Drive, Suite 150
Hoover, AL 35244
© 2008 Ann Allen, All rights reserved
The girls played in the Rebel Rumble, an all-day tournament that was hosted by the Vestavia Rebels. It was held in the gymnasium at Vestavia Hills High School and was attended by teams from around the state, including:

PICTURES FROM THE TOURNAMENT!








Courtesy of Ann Allen, e-Pro, SRES, ASP
205.902.4868
Keller Williams
One Chase Corporation Drive, Suite 150
Hoover, AL 35244
© 2008 Ann Allen, All rights reserved

This is a photo I took while sitting out by the pool at the Perdido Beach Resort August 26, 2008. Tropical Storm Fay was supposed to make for a very soggy beach trip, however, at our location in Orange Beach we had dryer weather than anywhere close to us. The storm just spun around us and we had lovely weather and beautiful skies like this much of the time. It was very breezy and the clouds were moving fast.

Courtesy of Ann Allen, e-Pro, SRES, ASP
205.902.4868
Keller Williams
One Chase Corporation Drive, Suite 150
Hoover, AL 35244
© 2008 Ann Allen, All rights reserved
They took on the 7th grade Homewood Patriots at Jack Wood Stadium in Trussville AL. It was an exciting football game that had fans on the edge of their seats! It was a hard fought battle, with the Patriots taking home the win with a victory of 24 - 21.
EVERYONE HAD A BLAST!









Courtesy of Ann Allen, e-Pro, SRES, ASP
205.902.4868
Keller Williams
One Chase Corporation Drive, Suite 150
Hoover, AL 35244
© 2008 Ann Allen, All rights reserved
The Southern Women's Show returns to Birmingham October 2-5 at the BJCC in downtown Birmingham.

Special Pricing:
For $1 Discount Coupon click here
Don't miss out on all the fun!

Courtesy of Ann Allen, e-Pro, SRES, ASP
205.902.4868
Keller Williams
One Chase Corporation Drive, Suite 150
Hoover, AL 35244
© 2008 Ann Allen, All rights reserved
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