Alabama Capital credit
The capital credit is available to companies involved in a qualified new businesses or expansions of existing businesses. The capital credit claimed for the tax year shall not exceed 5 percent of the actual capital costs. The capital credit shall be provided to each investing company and its shareholders, partners, members, owners, or beneficiaries on Form K-RCC provided by the reporting company.
Eligibility
To qualify for the capital credit, the project entity must be registered with and approved by the Commissioner?s Office of the Alabama Department of Revenue. The company should meet the number of jobs created depending on the type of the project. View full details
(Non)Refundable
Non Refundable
How To Claim
You can claim Capital credit by filling Schedule OC and include it with the Form 40. The Form K-RCC must be attached to the individual return in order to be eligible to receive the capital credit.
Additional Info
Alabama Department of Revenue
P.O. Box 327410
Montgomery, AL 36132 7410
(334) 242-1000