§ 40-18-376.2 — Additional Jobs Credit for Employment of Veterans

Alabama § 40-18-376.2

• Jurisdiction: Alabama
• Title 40: Revenue and Taxation
• Ch. 18: Income Taxes
• Art. 16: Alabama Jobs Act

Text

(a) The provisions in this section shall apply to the following:
(1) Any incentivized company that employed, in the prior year, at least 12 percent of its
employees as veterans who received an honorable or general discharge.
(2) Any incentivized company
with
a qualifying project located within a former active duty military installation closed by the Base Realignment and Closure process.
(b)(1) Any incentivized company described by subdivision (a)(1) shall receive an additional 0.5 percent jobs credit provided in Section 40-18-375(a) on the wages paid during the prior year to
Alabama resident
employees who are veterans.
(2) Any incentivized company described by subdivision (a)(2) shall receive an additional 0.5 percent jobs credit provided in Section 40-18-375(a) on the wages paid during the prior year to
Alabama resident
employees.
(c) No incentivized company claiming the credit provided by subdivision (b)(1) shall also claim the credit provided by Article 13 of this chapter for any portion of the project.
(d) The Department of Labor shall periodically verify the actual number of veterans employed by the incentivized company described in subdivision (a)(1) and the wages of the veterans during the relevant year. If the Department of Labor is not able to provide the verification utilizing all available resources, it may request any additional information from the incentivized company as may be necessary.

Legislative History

(Act 2015-41, p. 446, §3; Act 2016-321, p. 799, §1; Act 2023-34, §2.)