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Investment Credit Allocation Schedules

  • Investment Credit Allocation Schedules

Procedures for Submitting an Allocation Schedule for the Investment Credit

Companies receiving investment credit are required to file an online allocation schedule with ALDOR to allocate the annual Investment Credit. The incentivized company must allocate the portion of the credit to be utilized against the income tax liability and/or the utility taxes paid of the incentivized company, and to each taxpayer entitled to receive the credit pursuant to the State Project Agreement. Any business entity that has been allocated an Investment Credit, in whole or in part, will also be required to file the allocation schedule. The allocation schedule must be submitted annually based on the annual certification received from the Alabama Department of Commerce.

The allocation schedule must be submitted through My Alabama Taxes before the Investment Credit can be claimed on the income tax return, utility license tax return (applicable only to utility companies), or for utility taxes paid.

Individuals receiving an allocation will be notified by the business entity making the allocation and will directly claim the credit on their individual income tax return.

Additional Information