New Facility and Expansion
Abatement of non-educational portion of sales and use taxes on construction materials equipment and other capitalized costs. For the non-educational portion of the property tax, increases can be abated for up to 20 years. May also qualify for Jobs Acts Incentives.
Existing Facility: Refurbishments, Upgrades, or Placed Back in Service
Abatement of non-educational portion of sales and use taxes on construction materials, equipment and other capitalized costs. Abatement for up to 20 years of the non-educational portion of the incremental property tax increases. Abatement from taxes for increased utility services for up to 10 years. Includes AIDT worker training and the company may not apply for Jobs Act incentives.
Property Tax Abatement
New and expanding businesses qualify for the abatement of all the state and local non-educational portion of the property taxes. This includes all real and personal property incorporated into a qualifying project. Data processing center projects can receive an extended reduction, contingent on total capital investment in a project. Learn more about Alabama property tax rates and abatements.
Sales and Use Tax Abatements
Companies can abate all state and local non-educational portion of the sales and use taxes on the acquisition, construction and equipping of a qualifying project. For an extended reduction, data processing center projects qualify if they deal with constructing and equipping a project, including refresh. The incentive is contingent on total capital investment in a project. Learn more about Alabama sales and use tax abatements.
Full Employment Act Credit
Employers with less than 50 employees are eligible for a $1,000 nonrefundable income tax or financial institution excise tax credit for each job created that qualifies under the Full Employment Act Credit. Alabama income tax incentives.
Heroes for Hire Credit
Employers may qualify for a one-time $1,000 nonrefundable income tax credit, if they meet the requirements for the Full Employment Act and the employee is a qualifying veteran.
Income Tax Net Operating Loss Carryforward
Corporate income tax law allows companies to carry forward any net operating losses for up to 15 years.