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Procedures for Economic Development Organizations

  • Procedures for Economic Development Organizations

An Economic Development Organization (EDO) must have a My Alabama Taxes account before ALDOR can add the EDO’s approved Innovate Alabama project in the online reservation system. Once ALDOR opens the online reservation for the EDO project, the EDO will be sent a web notice that the online reservation is open and available to the donors willing to make contributions through the online reservation system.

Steps required to be taken by the EDO:

  • Create a My Alabama Taxes account so that ALDOR can open the online project reservation to receive donations. The My Alabama Taxes account can be created before the funding agreement is finalized.
  • The EDO has 60 days from the date the project is added to the online system to confirm that the taxpayer’s donation has been received, the project has been funded, and the project will be undertaken. The project will close 60 days from the date the project is added to the online system. Any reservations that have not been confirmed before the online reservation closes will automatically be denied.

To approve/deny the donation reservations, please follow the steps below:

  • Log in to My Alabama Taxes.
  • Once logged in, click on the “Verify EDO donations for Innovating Alabama” link under Correspondence in the Accounts tab.
  • Read and accept the disclaimer shown in the next window and click Next.
  • Mark donations as funds received or funds not received by checking the appropriate boxes, and then confirm the information provided on the screen.       Note!  Selecting the “Funds not received” checkbox signifies your rejection of a donor’s donation reservation. If you anticipate a cash donation from the donor, please keep the box unchecked. Reserve the “Funds not received” indication solely for projects where you do not anticipate receiving cash donations.
  • Review and submit.

Please be advised that it is the responsibility of the EDO to comply with the above steps as provided in the Innovate Alabama Funding Agreement. If you have further questions, please contact the Office of Economic Development.