INCENTIVE DESCRIPTION

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.
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.


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.