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Even though the federal R&D credit is consistent across the country, states offer a variety of programs for businesses engaging in research and development. While Alabama doesn't have a statute specific to R&D, the Alabama Jobs Act provides incentives to qualified businesses for approved projects that create new jobs in the state, including those conducting space research.
Taxpayers that qualify for the Alabama R&D credit need to plan ahead and receive approval from the Alabama Department of Commerce before they can claim the credit. Learn more about Alabama's Investment Credit here.
R&D Tax Credit Available:
C-Corporation, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Data Required to Compute Credit:
Qualified Capital Investment approved with a State Project Agreement
What Information is needed?
Various — See Alabama's R&D Tax Credit Law Website here
The annual credit is not refundable, but any unused credit associated with the annual credit can be carried forward for up to 5 years.