Alabama § 41-9-219.1 Allocation of Tax Credits

Alabama Statutes

§ 41-9-219.1 — Allocation of Tax Credits

Alabama § 41-9-219.1

Title 41State Government

Ch. 9Boards and Commissions

Art. 8CAlabama New Markets Development Act

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Bluebook

Ala. Code § 41-9-219.1 (2026).

Text

Tax credits claimed under this article shall not be saleable or transferable. Tax credits earned by a partnership, limited liability company, S corporation, or other “pass-through” entity may be allocated to the partners, members, or shareholders of that entity for their direct use in accordance with the provisions of any agreement among the partners, members, or shareholders. Any amount of tax credit that the taxpayer, or partner, member, or shareholder thereof, is prohibited from claiming in a taxable year may be carried forward to any of the taxpayer’s subsequent taxable years.

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Tax credits claimed under this article shall not be saleable or transferable. Tax credits earned by a partnership, limited liability company, S corporation, or other “pass-through” entity may be allocated to the partners, members, or shareholders of that entity for their direct use in accordance with the provisions of any agreement among the partners, members, or shareholders. Any amount of tax credit that the taxpayer, or partner, member, or shareholder thereof, is prohibited from claiming in a taxable year may be carried forward to any of the taxpayer’s subsequent taxable years.