Financial Institution Excise Tax filers needing assistance with the credit claim process and/or Financial Institution Excise Tax filers who have questions about available tax credits should call the Corporate Income Tax Section at (334) 242-1200.
These credits will be subject to an approval process when the tax return is filed claiming the credit. The following are credits that do not require pre-certification through MAT:
Sales Tax Credit
New Markets Credit
Investment Credit (Alabama Jobs Act)*
*Investment Credit (Alabama Jobs Act) – The approval of this credit is managed through the Department of Commerce. Once the Department of Commerce has approved the annual certification, the Alabama Department of Revenue will notify the investing company to complete an allocation schedule through MAT. See Investment Credit.
For additional information on any of these tax credits, please visit the Department of Revenue’s website at: Income Tax Incentives.
All credits that require pre-certification must be submitted using your MAT Financial Institution Excise Tax Account. The credits that require pre-certification are:
Full Employment Act of 2011
Veterans Employment Act – Employer Credit
2013 Alabama Historic Rehabilitation Credit
Apprenticeship Tax Credit
Income Tax Capital Credit*
*Income Tax Capital Credit – Project Entities submit the Annual Report (Form AR-C) through MAT under the tax period in which it will be utilized. For Financial Institutions, the Annual Report and KRCC are now combined. See Income Tax Capital Credit.