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Alabama Other Available Credits
Extracted from PDF file 2023-alabama-schedule-oc.pdf, last modified September 2023Other Available Credits
SCHEDULE OC 2023 *230012OC* (FORM 40 OR 40NR) Alabama Department of Revenue Other Available Credits ATTACH TO FORM 40 OR 40NR * Individual Credits must be submitted through My Alabama Taxes (MAT) before completion of the Schedule OC. See instructions for submission details. Name(s) as shown on Form 40 or 40NR Your social security number SECTION A Current Tax Period Liability. Enter tax amount from Form 40, page 1, line 17 or Form 40NR, page 1, line 19 . . . . . . . . . • SECTION B Current Year Credits PART A – Credit for Taxes Paid to Other States (Form 40 Only) A1 Sum of Alabama Adjusted Gross Income Attributable to all other States from Schedule CR, line 26 . . . . . . . . . . . . . . A1 A2 Alabama Adjusted Gross Income from Form 40, page 1, line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A2 A3 Total Other States' % of Alabama AGI (Divide line A1 by line A2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 • A4 Multiply the current tax liability (Section A) by line A3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4 • A5 Enter line 27 from Schedule CR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A5 A6 Credit Allowable (Enter smaller of lines A4 or A5). Enter here and on Section C, Part A, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 • PART B – Alabama Enterprise Zone Credit or Exemption B1 • B1 Enter amount from Schedule EZK1, Part II, page 2, line 13, or Schedule EZ, Part IV, page 2, line 13. Enter here and on Section C, Part B, Column 3 . PART C – Basic Skills Education Credit Attach this schedule to your Alabama return along with a copy of your approved certification notice issued by the Alabama Department of Education. C1 Enter your assigned Department of Education Certification Number_______________________________ C2 Name of employer/firm sponsoring the education program_______________________________________ C3 Name of approved provider_____________________________________Location________________________________ C4 Were all participants for whom you are claiming a tax credit continuously employed by you for at least 16 weeks? Yes No C5 If the answer to line C4 is yes, did employee(s) work at least 24 hours each week? Yes No C6 If the answer to lines C4 and C5 above is yes, enter the total expenses available for credit (see instructions) C6 C7 CREDIT ALLOWABLE. Multiply line C6 by 20% (.20). Enter here and on Section C, Part C, Column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C7 • PART D – Rural Physician Credit D1 Name of hospital and community where you live and provide medical services _________________________________________________________ _________________________________________________________________________________________________________________________ D2 Maximum Rural Physician Credit. Qualifying Physicians, enter $5,000. If Married Filing Jointly (MFJ) and both spouses qualify for Rural Physician Credit, enter $10,000 . . . . . . . . . . . . . . . D2 • D3 CREDIT ALLOWABLE. Enter the amount from line D2. Enter here and on Section C, Part D, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D3 • PART E – Coal Credit* E1 Enter the amount of Coal Credit not reported on Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E1 • E2 Pro rata share of credit from Schedule K-1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E2 • FEIN of entity • _______________________________ (If credit from more than one entity, attach schedule.) E3 CREDIT ALLOWABLE. Add line E1 and line E2. Enter here and on Section C, Part E, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E3 • PART F – Full Employment Act of 2011 Credit.* Owners of qualified employers that are entities taxed under subchapters S or K of the Internal Revenue Code will report their pro rata share of credit on line F6 below. Were you in business with 50 or fewer full and/or part-time employees on June 9, 2011? Yes No If “No”, you do not qualify for this credit. F1 Number of full time employees on 12-31-2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 F2 Number of full time employees on 12-31-2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2 F3 Subtract line F2 from line F1. If less than or equal to zero, STOP! You do not qualify for credit. . . . . . . . . . . . . . . . . . . F3 F4 Number of qualifying new employees from line F3 that completed their first 12 months service in 2023. . . . . . . . . . . . F4 F5 Multiply line F4 by $1,000.00. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5 F6 Pro rata share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6 FEIN of entity _______________________________ (If credit from more than one entity, attach schedule.) F7 CREDIT ALLOWABLE. Add line F5 and line F6. Enter here and on Section C, Part F, Column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7 • ADOR Schedule OC (Form 40 or 40NR) 2023 Name(s) as shown on Form 40 or 40NR *230013OC* Page 2 Your social security number PART G – Veterans Employment Act - Employer’s Credit.* Owners of qualified employers that are entities taxed under subchapters S or K of the Internal Revenue Code skip Lines G1 and G2 and report your pro rata share of credit on line G3 below. EMPLOYER CREDIT G1 Number of unemployed veterans included in Part F, line F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G1 G2 Multiply line G1 by $2,000.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G2 G3 Pro rata share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G3 FEIN of entity _______________________________ (If credit from more than one entity, attach schedule.) G4 CREDIT ALLOWABLE. Add line G2 and line G3. Enter here and on Section C, Part G, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G4 • PART H – Veterans Employment Act - Business Startup Expense Credit.* For owners of qualified employers that are entities taxed under subchapters S or K of the Internal Revenue Code skip Lines H1 through H4 and report your pro rata share of credit on line H5 below. Did this business start up after April 2, 2012? Yes No If “No”, you do not qualify for this credit. BUSINESS START-UP EXPENSES CREDIT H1 Name and business ID number _________________________________________________________________________________________________ H2 Enter total amount of business start-up expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H2 H3 Maximum credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H3 $2,000 H4 Enter the lesser of line H2 or line H3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H4 H5 Pro rata share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H5 FEIN of entity _______________________________ (If credit from more than one entity, attach schedule.) H6 CREDIT ALLOWABLE. Add line H4 and line H5. Enter here and on Section C, Part H, Column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H6 • PART I – Credit for Taxes paid to a Foreign Country (For Form 40 Only) Note: All dollar figures must be in U.S. dollars. I1 S Corporation/Partnership/Estate/Trust Name •_____________________________________________________________________________________ I2 FEIN •____________________________________ I3 Name of country income earned in •______________________________________________________________________________________________ I4 Your pro rata share in entity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I4 • I5 Pro rata share of income from foreign operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I5 • I6 Alabama tax imposed on the pro rata share of income from foreign operations as reported on line I5 . . . . . . . . . . . . . . I6 • I7 Pro rata share of tax due the foreign country as shown on that country's tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I7 • I8 Multiply I7 by 50% (.50) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I8 • I9 CREDIT ALLOWABLE. Enter the lesser of line I6 or line I8. Enter here and on Section C, Part I, Column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I9 • PART J – Qualified Irrigation System/Reservoir System Tax Credit* (Any unused Qualified Irrigation System/Reservoir System Tax Credit may be carried forward for a maximum of 5 years.) Type of Credit: Select either the purchase or conversion of irrigation system checkbox or the construction of reservoir checkbox. You cannot select both. However, the pro-rata share of credit checkbox can be selected in addition to either. • Purchase or conversion of irrigation system. Complete lines J1 through J4 and J7 through J11 below. Skip lines J5 through J6. • Construction of reservoir. Skip lines J1 through J4 and complete lines J5 through J11 below. • Pro-rata share of credit from Subchapter S or K. Complete lines J10 through J11 below. J1 Purchase cost and installation costs of irrigation system . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J1 • Conversion costs to convert from fuel to electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J2 • Add lines J1 and J2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J3 • Multiply line J3 by 20% (.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J4 • Cost of construction reservoir . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J5 • Multiply line J5 by 20% (.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J6 • Enter the amount from either line J4 or line J6, but not both . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J7 • $10,000 Credit Limit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J8 Enter the lesser of line J7 or line J8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J9 • Pro rata share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J10 • FEIN of entity • _________________________ J11 Maximum credit allowable. Add line J9 and line J10 Enter here and on Section C, Part J, Column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J11 • PART K – Alabama Accountability Tax Credit – School Transfer Credit K1 Enter total cost of attending nonfailing public school or nonpublic school from Schedule AATC, Line 37. Enter here and on Section C, Part K, Column 3 K1 • J2 J3 J4 J5 J6 J7 J8 J9 J10 ADOR Schedule OC (Form 40 or 40NR) 2023 *230014OC* Page 3 Name(s) as shown on Form 40 or 40NR Your social security number PART L – Alabama Accountability Act Credit - Scholarship Granting Organization (SGO) portion (Any unused Alabama Accountability Act Credit - Scholarship Granting Organization (SGO) portion may be carried forward for a maximum of 3 years.) L1 Name of Scholarship Granting Organization: •_____________________________________________________________________________________ L2 Address of Scholarship Granting Organization: _____________________________________________________________________________________ ______________________________________________________________________________________________________________________________ L3 Enter amount contributed for scholarship(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L3 • L4 Pro rata share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L4 • FEIN of entity • _________________________ L5 Current Year Credit Available. Add L3 and L4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L5 • L6 Maximum credit allowable for current year contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L6 $100,000 L7 Current Year Credit Allowable. Enter the lesser of line L5 or L6. Enter here and on Section C, Part L, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L7 • PART M – Alabama Adoption Tax Credit M1 CREDIT ALLOWABLE. Enter the amount from Schedule AAC, Part III, Line 3 here and on Section C, Part M, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M1 • PART N – 2013 Alabama Historic Rehabilitation Tax Credit* – For project numbers prior to 2018. (Any unused 2013 Alabama Historic Rehabilitation Tax Credit may be carried forward for a maximum of 10 years.) N1 Amount of tax credit certificate for any project placed in service this year Project Number Date Placed In Service Credit Amount N1a • • • N1b • • • N1c • • • N2 Total Credit - Add lines N1a, N1b and N1c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N2 • N3 Pro rata share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N3 • FEIN of entity • _________________________ N4 CREDIT ALLOWABLE. Add line N2 and line N3. Enter here and on Section C, Part N, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N4 • PART O – Career – Technical Dual Enrollment Credit (Any unused Career – Technical Dual Enrollment Credit may be carried forward for a maximum of 3 years.) O1 Amount Contributed this year (Department of Post-Secondary Education Tax Credit Certificate) . . . . . . . . . . . . . . . . . O1 • O2 Amount of Current Credit — Multiply line O1 by .50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . O2 • O3 Pro rata share of credit from Schedule K-1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . O3 • FEIN of entity • _________________________ O4 Current Year Credit Available. Add Lines O2 and O3. Enter here and on Section C, Part O, Column 2. . . . . . . . . . . . O4 • O5 Multiply the current tax liability (Section A) by 50% (.50).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . O5 • O6 Maximum Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . O6 O7 Current Year Credit Allowable. Enter the Lessor of O4, O5 or O6. Enter here and on Section C, Part O, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . O7 • O8 MAXIMUM CREDIT ALLOWABLE FOR PRIOR YEAR CREDIT CARRYFORWARD. Subtract line O7 from line O5. Enter here and on line O9a, Column 3 O8 • $500,000 O9 Calculation of Allowable Prior Year Credit Carryforward - enter here and on Section D. If Part O, line O8 is equal to zero, do not complete this section. Column 1 Credit Year (YYYY) Column 2 Column 3 Column 4 Column 5 Credit Carryforward Available Credit Limitation (Line O9a, Col. 3 equals line O8. Lines O9b - O9c, Col. 3 equal Col. 5, prior row) Maximum Credit Carryforward Available This Year (Lesser of Col. 2 or Col. 3) Unused Credit Limitation (Col. 3 minus Col. 4) O9a • • • • • O9b • • • • • O9c • • • • • O9d Maximum Credit Carryforward Available. Sum of Column 4, line O9a, O9b, and O9c . . . . . . . . . . . . . . . . . . . . . . • PART P – Investment Credit – Alabama Jobs Act (Any unused Investment Credits – Alabama Jobs Act may be carried forward for a maximum of 5 years.) Project Number • _________________________________________ P1 Current Year’s Investment Credit amount allocated to income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P1 • P2 Current Year’s Allocated share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P2 • FEIN of entity • _________________________ P3 CREDIT ALLOWABLE. Add line P1 and line P2. Enter here and on Section C, Part P, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . P3 • ADOR Schedule OC (Form 40 or 40NR) 2023 *230015OC* Alabama Department of Revenue Other Available Credits ATTACH TO FORM 40 OR 40NR * Individual Credits must be submitted through My Alabama Taxes (MAT) before completion of the Schedule OC. See instructions for submission details. Page 4 Name(s) as shown on Form 40 or 40NR Your social security number PART Q – Port Credit – Alabama Renewal Act Credit (Unused Port Credit may be carried forward for a maximum of 5 years.) In order to receive credit, please attach a copy of your Certification of Port Credit from the Alabama Department of Commerce. Company Name ________________________________________________________________________________________________________________ FEIN or SSN of Qualified Project ___________________________ Q1 Port Credit amount certified . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Q1 • Q2 Pro rata share of credit from Schedule K-1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Q2 • FEIN of entity • _________________________(If credit from more than one entity, attach schedule.) Q3 CREDIT ALLOWABLE. Add line Q1 and line Q2. Enter here and on Section C, Part Q, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Q3 • PART R – Alabama Renewal Act – Growing Alabama Credit (Any unused Growing Alabama Credit may be carried forward for a maximum of 5 years.) Name of Economic Development Organization • ______________________________________________________________________________________ R1 Amount(s) approved for contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R1 • R2 Pro rata share of credit from Schedule K-1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R2 • R3 R4 R5 R6 R7 FEIN of entity • _________________________ (if credit from more than one entity attach schedule.) Current Year Credit Available. Add line R1 and line R2. Enter here and on Section C, Part R, Column 2 . . . . . . . . . . R3 • Multiply the current tax liability (Section A) by 50% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R4 • Current Year Credit Allowable. Enter the lesser of line R3 and line R4. Enter here and on Section C, Part R, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R5 • MAXIMUM CREDIT ALLOWABLE FOR PRIOR YEAR CREDIT CARRYFORWARD. Subtract line R5 from line R4. Enter here and on line R7a, Column 3 R6 • Calculation of Allowable Prior Year Credit Carryforward - enter here and on Section D. If Part R, line R6 is equal to zero, do not complete this section. Column 1 Column 2 Column 3 Column 4 Column 5 Credit Year (YYYY) Credit Carryforward Available Credit Limitation (Line R7a, Col. 3 equals line R6. Lines R7b - R7e, Col.3 equal Co. 5, prior row) Maximum Credit Carryforward Available This Year (Lesser of Col. 2 or Col. 3) Unused Credit Limitation (Col. 3 minus Col. 4) R7a • • • • • R7b • • • • • R7c • • • • • R7d • • • • • R7e Maximum Credit Carryforward Available. Sum of Column 4, line R7a, R7b, R7c and R7d. . . . . . . . . . . . . . . . . . . . . • PART S – Apprenticeship Tax Credit* If business entity is a sole proprietor, a copy of the Alabama Apprenticeship Tax Credit Certificate must be attached to this return, otherwise, no credit will be allowed. If business is a Subchapter S or K, skip Part I and indicate your pro-rata share of credit on Part II, line S2. Part I Apprenticeship Employer Name • ______________________________________________________________________________________________________________________________ Apprenticeship Employer FEIN or SSN • ________________________________________________________________________________________________________________________ Part II S1 Credit from Alabama Apprenticeship Tax Credit Certificate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S1 • S2 Pro rata share of credit from Schedule K-1 if applicable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S2 • FEIN of entity • _________________________(If credit from more than one entity, attach schedule.) S3 CREDIT ALLOWABLE. Add line S1 and line S2. Enter here and on Section C, Part S, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S3 • ADOR *230016OC* Schedule OC (Form 40 or 40NR) 2023 Name(s) as shown on Form 40 or 40NR Page 5 Your social security number PART T – 2017 Alabama Historic Rehabilitation Tax Credit* – For project numbers beginning with 2018 and forward. T1 Amount of tax credit certificate issued by the Historic Tax Commission or Transfer Credit Certificate issued by the Department of Revenue for any project placed in service this year Project Number T1a • T1b • Date Placed In Service • • • Credit Amount • • • T1c • T2 CREDIT ALLOWABLE. Add line T1a, T1b and line T1c. Enter here and on Section C, Part T, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART U – Railroad Modernization Act of 2019* U1 Enter the amount of credit as reported on your Transfer Credit Certificate issued by the Department of Revenue. Enter here and on Section C, Part U, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART V – Storm Shelter Credit V1 Credit from Alabama Emergency Management Agency Tax Credit Certificate. Enter here and on Section C, Part V, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . PART W – Volunteer Emergency Responders Tax Credit * W1 Enter amount from Emergency Responders Credit certificate. Enter here and on Section C, Part W, Column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART X – Innovate Alabama. (Any unused Innovate Alabama Credit may be carried forward for a maximum of 5 years.) Name of Economic Development Organization • ______________________________________________________________________________________ T2 • U1 • V1 • W1 • X1 Enter the amount approved by Innovate Alabama . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X1 • X2 Pro rata share of credit from Schedule K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X2 • FEIN of entity • _________________________ (if credit from more than one entity attach schedule.) X3 Current Year Credit Available. Add line X1 and line X2. Enter here and on Section C, Part X, Column 2 . . . . . . . . . X3 • X4 Multiply the current tax liability (Section A) by 50% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X4 • X5 Current Year Credit Allowable. Enter the lesser of line X3 and line X4. Enter here and on Section C, Part X, Column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X5 • PART Y – Income Tax Capital Credit - You must attach Form KRCC and Schedule KRCC-I to your Alabama return. Y1 Enter Capital Credit allowable from Schedule KRCC-I, Part III, line 5. Enter here and on Section C, Part Y, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Y1 • ADOR *230017OC* Schedule OC (Form 40 or 40NR) 2023 Page 6 Name(s) as shown on Form 40 or 40NR Your social security number SECTION C Current Credit Summary See Schedule OC Instructions. Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Type of Credit Current Credit Available Current Credit Allowable Tax Due to be Offset Current Credit Applied Balance of Tax Due (Col. 4 - Col. 5) Credit Carryforward Part A • Credit for Taxes Paid to Other State • • • • Part B • Alabama Enterprise Zone • • • • Part C • Basic Skills Education Credit • • • • Part D • Rural Physician Credit • • • • Part E • Coal Credit • • • • Part F • Full Employment Act of 2011 • • • • Part G • Veterans Employment Act – Employer Credit • • • • Part H • Veterans Employment Act – Business Start-up Expense Credit • • • • Part I • Credit for Taxes paid to Foreign Country • • • • Part J • Qualified Irrigation System/Reservoir System Tax Credit • • • • Part K • Alabama Accountability Tax Credit – School Transfer Credit • • • • Part L • Alabama Accountability Tax Credit – Scholarship Granting Organization (SGO) portion • • • • Part M • Alabama Adoption Tax Credit • • • • Part N • 2013 Alabama Historic Rehabilitation Tax Credit • • • • • • • • • • Part P • Investment Credit – Alabama Jobs Act • • • • • Part Q • Port Credit – Alabama Renewal Act • • • • • • • • • • Part S • Apprenticeship Tax Credit • • • • Part T • 2017 Alabama Historic Rehabilitation Tax Credit • • • • Part U • Railroad Modernization Act of 2019 Credit • • • • Part V • Storm Shelter Credit • • • • Part W • Volunteer Emergency Responders Tax Credit • • • • • • • • • • • • Part O • Career - Technical Dual Enrollment Credit Part R • Growing Alabama Credit Part X • Innovate Alabama Part Y • Income Tax Capital Credit • • • • • • • 1. Total Current Credits. Total Section C, Column 5, Part A through Y. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • ADOR *230018OC* Schedule OC (Form 40 or 40NR) 2023 Page 7 Alabama Department of Revenue Other Available Credits ATTACH TO FORM 40 OR 40NR * Individual Credits must be submitted through My Alabama Taxes (MAT) before completion of the Schedule OC. See instructions for submission details. Name(s) as shown on Form 40 or 40NR Your social security number SECTION D Credit Carryforward Prior Years In Column C list any prior year credit carryforwards for application. In Column E enter the Balance of Tax Due from Section C, Column 6. If no Credits were taken in Section C, enter the tax liability from Section A of this form into the first row of Column E. Repeat the steps that follow for each carryforward: Subtract Column E from Column D. If the Column E is less than or equal to Column D, enter Column E in Column F and compute Column G (Column C – Column F). If the Column E is greater than Column D, enter Column D in Column F. For the remaining rows, use the preceding Column E minus Column F as the Balance of Tax Due in Column E. (See instructions for more details) *For the Career - Technical Dual Enrollment Credit and Growing Alabama Credit carryforward computation, the Allowable Carryforward Credit in Column D is limited to the Maximum Credit Carryforward Available This Year in Column 4 of Section B, Part O, Line O9 and Section B, Part R, Line R7. All others Column D equals Column C. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. • • • • • • Column A Column B Column C Column D Column E Column F Column G Type of Credit Carryforward Year Carryforward Generated (YYYY) Available Carryforward Credit Allowable Carryforward Credit Balance of Tax Due Amount Used this Period Remaining Unused Carryforward (Col. C - Col. F) • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 21. Total Prior Year Credit Carryforward. Total Section D, Column F, lines 1 through 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • SECTION E Net Tax Due Computation E1 Current Year Tax Liability. Enter amount from Section A of this form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E1 • E2 Total Current Year Credits Applied. Enter amount from Section C, line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E2 • E3 Prior Year Credit Carryforwards applied. Enter amount from Section D, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E3 • E4 Total Credits Utilized This Year. Add lines E2 and E3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E4 • E5 Net Tax Due. Subtract E4 from E1. Enter the results here and on Form 40, Page 1, line 18 or Form 40NR, Page 1, line 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . E5 • SECTION F Total Refundable Credits F1 • F1 Alabama Accountability Tax Credit – School Transfer Credit. Subtract Section C, Part K, Column 5 from Section C, Part K, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2 Alabama Adoption Tax Credit. Subtract Section C, Part M, Column 5 from Section C, Part M, Column 3 . . . . . . . . . F2 • F3 • F3 2017 Alabama Historic Rehabilitation Tax Credit. Subtract Section C, Part T, Column 5 from Section, C, Part T, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4 Total Refundable Credits. Add lines F1, F2 and F3. Enter the results here and on Page 1, line 25 of your return (Form 40 or Form 40NR) . . . . . . . . . . . . . . F4 • ADOR
Schedule OC
More about the Alabama Schedule OC Individual Income Tax Tax Credit TY 2023
Use this form to specify additional tax credits you qualify for. Attach to Form 40 or 40NR.
We last updated the Other Available Credits in January 2024, so this is the latest version of Schedule OC, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule OC directly from TaxFormFinder. You can print other Alabama tax forms here.
Other Alabama Individual Income Tax Forms:
TaxFormFinder has an additional 47 Alabama income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 40 | Alabama Individual Income Tax Return |
| Form 40 Booklet | Form 40 Income Tax Instruction Booklet |
| Schedule A, B, & DC | Itemized Deductions, Interest and Dividend Income and Donation Checkoffs (Form 40) |
| Form 40A | Individual Income Tax Return (Short Form) |
| Form 40-V | Individual Income Tax Payment Voucher |
View all 48 Alabama Income Tax Forms
Form Sources:
Alabama usually releases forms for the current tax year between January and April. We last updated Alabama Schedule OC from the Department of Revenue in January 2024.
Schedule OC is an Alabama Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Alabama Schedule OC
We have a total of thirteen past-year versions of Schedule OC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Schedule OC
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