Economic Incentives & Tax Credits
High impact incentives for small businesses in Alabama
Professional hospitality is how you can describe Alabama’s approach to business. With low sales and income tax rates, affordable utilities, and an extremely low cost of living, Alabama makes it easy for businesses of all kinds to keep more of their hard-earned money. Beyond beauty, our state offers thousands of available sites, a proven track record of success, and a pro-business attitude, Alabama offers a robust lineup of incentives to businesses to improve financial burdens. AIDT, Alabama’s primary workforce development agency, was created in 1971 and remains one of the nation’s most highly regarded job-training agencies.
Top tax incentive programs for small and medium-sized businesses in Alabama
Chapter 9C Abatements
Chapter 9C of Title 40 (also known as the Brownfield Development Projects) gives cities and counties the authority to abate non-educational sales and use taxes in the county and city, as well as non-educational state, county, and city property taxes.
Chapter 9B Abatements
Chapter 9B abatements allow exemptions for new and expanding qualifying projects (including upgrades). Exemptions are made for a variety of categories, including State sales and use taxes, and mortgage and recording taxes.
Chapter 9G Abatements
Chapter 9G abatements are primarily for those companies undertaking projects such as reopening a closed facility, refurbishing an existing facility and/or purchasing replacement equipment.
Chapter 9G Utility Refund
Chapter 9G tax abatements allow qualifying projects to receive a refund of utility taxes
Investment Credit (Alabama Jobs Act)
Alabama Jobs Act provides for a discretionary credit depending upon a company’s capital investment.
Growing Alabama Credit
Alabama taxpayers who make cash contributions to EDOs for approved qualifying projects receive a Growing Alabama tax credit
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Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.