HB73 Alabama 2010 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2010
Title
Income tax, research and development tax credit based on federal income tax credit, Sec. 40-18-180 added
Description
<p class="bill_description"> For tax years beginning after December 31,
2010, this Act will allow for a research and
development credit attributable to Alabama
activities. This credit will annually phase in an
increasing percentage to a maximum of twenty
percent (20%) of the amount allowed in Section 41
of the Internal Revenue Code, if certain conditions
are met</p><p class="bill_entitled_an_act"> To add Section 40-18-180 to the Code of Alabama,
1975, to allow a research and development credit for tax years
beginning after December 31, 2010, that will annually phase in
and increase in percentage to a maximum of twenty percent
(20%) of that amount which is allowed in Section 41 of the
Internal Revenue Code, if certain conditions are met. The
research and development income tax credit would encourage
businesses to increase their investment in research activities
and to locate those research activities in Alabama.
</p>
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 12, 2010 | Read for the first time and referred to the House of Representatives committee on Education Appropriations |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB73 Alabama 2010 Session - Introduced |