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Alabama Excise Credits
Extracted from PDF file 2023-alabama-form-schedule-ec.pdf, last modified August 2019Excise Credits
SCHEDULE EC (FORM ET-1) *230005EC* Alabama Department of Revenue Reset Form 2023 Excise Credits ATTACH TO FORM ET-1 *Business Credits must be submitted through My Alabama Taxes (MAT) before completion of the Schedule EC. See instructions for submission details. NAME(S) AS SHOWN ON FORM ET-1 FEDERAL EMPLOYER IDENTIFICATION NUMBER SECTION A Current Tax Period Liability. Enter Alabama Financial Institution Excise Tax due from Form ET-1, page 1, line 16 here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SECTION B CURRENT YEAR CREDITS – Pre-Distribution Part A — Alabama Taxes Used As Credits A1. Sales Taxes: Supplies, etc.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A1 • A2. Furniture, Fixtures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A2 • A3. Use Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 • A4. State Tax on Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4 • A5. State Tax on Telephone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A5 • A6. Other Allowable Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 • A7. Add lines A1 through A6. CREDIT ALLOWABLE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A7 • A8. TOTAL ALABAMA TAXES USED AS CREDITS UTILIZED. If A7 is less than (<) Section A, enter the amount from A7 on A8. If A7 is greater than (>) Section A, enter the amount from Section A on A8 and zero (0) on A9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A9. Remaining Tax Liability Due: If Section A is greater than (>) A8, enter the difference on A9 (Section A - A8 = A9) and proceed to Part B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part B — Full Employment Act of 2011 Credit* 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. B1. Number of full time employees on 12-31-2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 • B2. Number of full time employees on 12-31-2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B2 • B3. Subtract line B2 from line B1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B3 • B4. Number of qualifying new employees from line B3 that completed their first 12 months of service in 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . B4 • B5. Multiply line B4 by $1,000. CREDIT ALLOWABLE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B5 • B6. TOTAL FULL EMPLOYMENT ACT CREDIT UTILIZED. If B5 is less than (<) A9, enter the amount from B5 on B6. If B5 is greater than (>) A9, enter the amount from A9 on B6 and zero (0) on B7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B7. Remaining Tax Liability Due: If Section B, Part A, Line A9 is greater than (>) B6, enter the difference on 7 (Section B, Part A, Line A9 - B6 = B7) and proceed to Part C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • A8 • A9 • B6 • B7 • ADOR *230006EC* ALABAMA SCHEDULE EC – 2023 Alabama Department of Revenue Excise Credits PAGE ATTACH TO FORM ET-1 NAME(S) AS SHOWN ON FORM ET-1 Part C — Investment Credit (Alabama Jobs Act) * C1. Enter the information requested for each project. Project Number: C1a. • C1b. • C1c. • C2. Credit Allowable.Total Investment Credit (Alabama Jobs Act). Enter the sum of all project credits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C3. TOTAL INVESTMENT CREDIT (ALABAMA JOBS ACT) UTILIZED. If C2 is less than (<) B7, enter the amount from C2 on C3. 2 FEDERAL EMPLOYER IDENTIFICATION NUMBER Amount of Credit: C1a C1b C1c C2 • • • • If C2 is greater than (>) B7, enter the amount from B7 on C3 (Section B, Part B, Line B7 = C3) and zero (0) on Section C, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C4. If C2 is greater than (>) C3, this is the amount of Investment Credit (Alabama Jobs Act) remaining to CARRYFORWARD Enter the amount on C4 and zero (0) on Section C, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C4 • C5. Remaining Tax Liability Due: If Section B, Part B, Line B7 is greater than (>) C3, enter the difference on C5 (Section B, Part B, Line B7 – C3 = C5) and proceed to Part C, Line C6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C6. Enter the information requested for Investment Credit (Alabama Jobs Act) Credit Carry Forward Prior Years. Project Number: Year Carryforward Generated Amount of Credit: MM/DD/YYYY C6a • C6a. • • C6b C6b. • • • C6c • C6c. • • C7. CREDIT ALLOWABLE PRIOR YEAR CREDIT CARRYFORWARD. Total Investment Credit (Alabama Jobs Act). Enter the sum of all prior year credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C7 • C8. TOTAL INVESTIMENT CREDIT (ALABAMA JOBS ACT) PRIOR YEAR CREDIT CARRYFORWARD UTILIZED. If C7 is less than (<) C5, enter the amount from C7 on C8. If C7 is greater than (>) C5, enter the amount from C5 on C8 and zero (0) on C9. . . . . . . . . . . . . . . . . . . . . . . . . . . . C9. Alabama Financial Institution Excise Tax less Pre-Distribution Credits (Net Alabama Financial Institution Excise Tax): If C5 is greater than (>) C8, enter the difference on C9 (C5 – C8 = C9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SECTION C Allocable Amount to General Fund 1. Net Alabama Financial Institution Excise Tax less Pre-Distribution Credits multiplied by 50% (C9 x .50). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 • C3 • 2. Total Amount allocated to General Fund. Enter amount here and Section E, Part D, Column 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 • C5 • C8 • C9 • ADOR *230007EC* Alabama Department of Revenue Excise Credits ALABAMA SCHEDULE EC – 2023 PAGE ATTACH TO FORM ET-1 NAME(S) AS SHOWN ON FORM ET-1 3 FEDERAL EMPLOYER IDENTIFICATION NUMBER SECTION D CURRENT YEAR CREDITS – Limited to the General Fund Portion of Distribution Part D — Veterans Employment Act. Employer Credit* D1. Number of unemployed veterans included in Section B, Part B, line B4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D1 • D2. CREDIT ALLOWABLE. Multiply line D1 by $2,000. Enter here and Section E, Part D, Column 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D2 • Part E — 2013 Alabama Historic Rehabilitation Tax Credit* E1. Enter the information from the Alabama Historic Commission Tax Credit Certificate for each project. Project Number: Date Placed In Service: Amount of Credit: • E1a. • • • E1b. • • • E1c. • • E2. CREDIT ALLOWABLE. Total 2013 Alabama Rehabilitation Tax Credit. Enter the sum of all project credits. Enter here and Section E, Part E, Column 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E2 • Part F – Apprenticeship Tax Credit* F1. CREDIT ALLOWABLE. Enter the amount from the Apprenticeship Tax Credit Certificate. Enter here and on Section E, Part F, Column 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 • Part G – Growing Alabama Credit* G1. Name of Economic Development Organization • G2. CREDIT AVAILABLE. Amount approved for contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G2 • G3. MAXIMUM CREDIT ALLOWABLE. Multiply Total Amount allocated to General Fund (Section C, line 2) by 50% (.50). Enter here . . . . . . . G3 • G4. CREDIT ALLOWABLE. Total Growing Alabama Credit. Enter the lesser of line G2 or line G3 here and Section E, Part G, Column 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G4 • G5. MAXIMUM CREDIT ALLOWABLE FOR PRIOR YEAR CREDIT CARRYFORWARD. Subtract line G4 from line G3. Enter here and line G6a, column 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G5 • G6. Calculation of Allowable Prior Year Credit Carryforward - enter here and on Section F. If Part G, line G5 is equal to zero, do not complete this section. Column 1 Credit Year Column 2 Column 3 Column 4 Column 5 Credit Carryforward Available Credit Limitation (Line G6a, Col. 3 equals line G5. Lines G6b, G6c, G6d, and G6e, 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) G6a. • G6b. • G6c. • G6d. • G6e. • G6f. Maximum Credit Carryforward Available. Sum of Column 4, line G6a, G6b, G6c, G6d, and G6e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G6f • ADOR *230008EC* Alabama Department of Revenue Excise Credits ALABAMA SCHEDULE EC – 2023 PAGE ATTACH TO FORM ET-1 NAME(S) AS SHOWN ON FORM ET-1 4 FEDERAL EMPLOYER IDENTIFICATION NUMBER Part H— Income Tax Capital Credit - Form AR-C must be filed on MAT. See Instructions* Check the box if the financial institution received a Form KRCC and completed a Schedule KRCC-B: • KRCC received (must attach Form KRCC) • KRCC-B completed (must attach Schedule KRCC-B) H1. Enter the information requested for each project. Project Number: Amount of Credit: H1a. • • H1b. • • H1c. • • H1d. • • H1e. • • H1f. • • H1g. • • H2. CREDIT ALLOWABLE. Total Capital Credit Available. Enter the sum of all project credits. Enter here and Section E, Part H, Column 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H2 • SECTION E Current Credit Summary Enter Total Amount allocated to General Fund due from Section C, line 2 on the current credit summary, Part D, Column 3. To calculate the Current Credit Summary, repeat the steps that follow for each row: In Column 2, enter the Credit Allowable from Section D. Subtract the Credit Allowable from the Remaining Tax to be Offset. If the Credit Allowable is greater than the amount in Column 3, enter the amount from Column 3 in Column 4. If the Remaining Tax to be Offset is greater than Column 2, enter the Credit Allowable (Column 2) in Column 4 and enter the difference of Column 3 and Column 4 in Column 5 and proceed to the next available credit. For the remaining rows, use the preceding Tax Remaining after Credit from Column 5 as the Remaining Tax to be Offset in Column 2. To compute the Credit Carryforward (Column 6) in the Current Credit Summary, for each credit listed, subtract the Amount Utilized (Column 4) from the Credit Allowable (Column 2), and enter difference in Column 6. Column 1 Type of Credit Column 2 Column 3 Credit Allowable Remaining Tax to be Offset Column 4 Column 5 Column 6 Amount Utilized Tax Remaining After Credit (Col. 3 – Col. 4) Credit Carryforward (Col. 2 – Col. 4) Part D • Veterans Employment Act – Employer Credit Part E • 2013 Alabama Historic Rehabilitation Tax Credit Part F • Apprenticeship Tax Credit Part G • Growing Alabama Credit Part H • Income Tax Capital Credit Total Current Credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • ADOR *230009EC* Alabama Department of Revenue Excise Credits ALABAMA SCHEDULE EC – 2023 PAGE ATTACH TO FORM ET-1 NAME(S) AS SHOWN ON FORM ET-1 5 FEDERAL EMPLOYER IDENTIFICATION NUMBER SECTION F Credit Carry Forward Prior Years For each carryforward available for utilization listed below, repeat the steps that follow: Subtract the Remaining Tax to be Offset (Section E, Part H, Column 5) from the Allowable Credit Carryforward (Section F, Column 6). If the Remaining Tax to be Offset is less than or equal to the Allowable Credit Carryforward, enter the Remaining Tax to be Offset in Column 7 and enter the excess of the Amount Available to use this Period in Column 8. If the Remaining Tax to be Offset is greater than Section F, Column 6, enter the Allowable Credit Carryforward to use this Period in Column 7 and enter the difference of the Remaining Tax to be Offset and the Amount used this Period in Column 9, then proceed to the next available prior year credit. For the remaining rows, the Amount used this Period in Column 7 is limited to the Remaining Tax to be Offset in Column 9 of the preceding row. *For the Growing Alabama Credit carryforward computation, the Allowable Credit Carryforward in Column 6 is limited to the Maximum Credit Carryforward Available This Year in Column 4 of Section D, Part G, Line G6. All other credits, Column 6 equals Column 5. Column 1 Column 2 Type of Credit Year Carryforward Generated (MM/DD/YYY) Column 3 Amount of Credit Column 4 Amount used in years prior to this Period Column 5 Amount available to use this Period (Col. 3- Col. 4) Column 6 *Allowable Credit Carryforward Column 7 *Amount used this Period Column 8 Column 9 Remaining unused Credit Carryforward (Col. 5 - Col. 7) Remaining Tax to be Offset 1. • 2. • 3. • 4. • 5. • 6. • 7. • 8. • 9. • 10. • Total Prior Year Credit Carryforward . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • SECTION G Total Credits 1. Pre-Distribution and Current Year Credits. Total Current Credits, Section B, Lines A8, B6, C3, C8 and Section E, Column 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. Prior Year Credits. Total Prior Year Credit Carryforward, Section F, Column 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. Total Credits Utilized in the Current Period. Add lines 1 and 2. Enter the total here and on Form ET-1, page 1, line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 3 • • • ADOR
Form Schedule EC
More about the Alabama Form Schedule EC Individual Income Tax TY 2023
Use Schedule EC to calculate available credits on Form ET-1
We last updated the Excise Credits in February 2024, so this is the latest version of Form Schedule EC, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form Schedule EC directly from TaxFormFinder. You can print other Alabama tax forms here.
Related Alabama Individual Income Tax Forms:
TaxFormFinder has an additional 47 Alabama income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Alabama Form Schedule EC.
| Form Code | Form Name |
|---|---|
| Form Schedule EC (Instructions) | Excise Credits - Instructions |
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 Form Schedule EC from the Department of Revenue in February 2024.
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 Form Schedule EC
We have a total of two past-year versions of Form Schedule EC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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