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Alabama Coal credit

Coal Credit is available for corporations producing coal mined in Alabama. The credit allowed shall be an amount equal to one dollar ($1) per ton of coal produced during the tax period in excess of the coal produced during the base year of production.

Eligibility

For tax periods beginning on or after January 1, 1995, every corporation that is doing business as a producer of coal in Alabama will be allowed a credit against the income tax imposed by ? 40-18-2, Code of Alabama 1975, Tax period of less than twelve-months. There is no provision in Act 95-239 for the proration of the income tax coal credit. The credit is based on the number of tons of coal produced during the short tax period in excess of the base year production.

(Non)Refundable

Non Refundable

How To Claim

You can claim Coal credit by filling Schedule OC and include it with the Form 40