Tax and nontax incentives may be available to private employers who are located in a designated enterprise zone and who comply with the provisions of the act. These incentives may take the form of the following:
- (a) State income tax or corporate franchise tax credit.
- (b) State income tax or corporate franchise tax credit for expenses for training new employees.
- (c) State income tax or corporate franchise tax credit for new investments.
- (d) Local tax credits.
- (e) Regulation exemption.
- (f) Employee training and technical assistance.
- (g) Increased or specialized services provided by local government.
- (h) Exemption from state sales and use tax.
- (i) Certain exemptions from state income taxes.
- (j) Certain exemptions from corporate franchise taxes.
Author: Wayne Bovis, Charles Reynolds.
Statutory Authority: Code of Ala. 1975, §§ 41-23-1 through 41-23-7, 41-23-29(6).
History: Filed January 22, 1988; effective February 26, 1988. Amended: November 19, 1990; effective December 24, 1990.