Alabama Code (Last Updated: November 28, 2014) |
Title40 REVENUE AND TAXATION. |
Chapter18. INCOME TAXES. |
Article7. Tax Credits for Projects of New Businesses and Business Expansions. |
§40-18-195. Capital credit not to exceed capital costs of project.
Latest version.
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The capital credit shall be reduced or eliminated with respect to a qualifying project at the time the sum of all capital credits received or allowed with respect to a qualifying project equals 100 percent of the capital costs of such qualifying project, all to the end that the aggregate amount of capital credits shall not exceed 100 percent of the capital costs of the qualifying project.