| State: |
AL |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Other Tax Credits |
| Description: |
1. INCOME TAX CAPITAL CREDIT: The capital credit is a credit of five percent (5%) of the capital costs of a qualifying project, to be applied to the Alabama income tax liability generated by the project income, each year for 20 years. Exemptions against certain taxes are also available.
2. EDUCATION CREDIT: An employer could qualify to receive an income tax credit of 20 percent of the actual cost of an employer sponsored educational program that enhances basic skills of employees up to and including the twelfth grade functional level.
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| Eligibility Requirements: |
1. The qualifying project must constitute either a headquarters facility, or an industrial warehousing, or research activity as defined under the NAICS Industry Classification System. Must meet defined capital investment, new employee criteria (including full-time employees which are co-employees of a professional employer organization and the client), and wage criteria. 2. Contact Department of Education |
| Geographic Restrictions: |
Statewide, unless noted as Enterprise Zone |
| Granting Authority: |
Department of Revenue, unless noted. |
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