HB73 Alabama 2010 Session

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

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.