![]() ![]() The taxpayer will file an annual informational report in a manner given by the Alabama Emergency Management Agency, which includes information reflecting the costs for construction, acquisition, or installation of the qualified storm shelter at the primary residence, along with additional information as required by the Alabama Emergency Management Agency.The statewide tax credit is limited to a collective amount for all taxpayers of two million dollars ($2,000,000) annually.The total costs for qualification of the tax credit will exclude any costs reimbursed or expected to be reimbursed by any other reimbursements, grants, or other government subsidies or incentives. ![]() The tax credit will equal three thousand dollars ($3,000) or 50 percent of the total cost of the construction, acquisition, and installation of the qualified storm shelter at the primary residence, whichever is less.Eligible taxpayers who incur costs for the construction, acquisition, or installation of a qualified storm shelter at their primary residence in the state of Alabama will be eligible for an income tax credit for the storm shelter.**For questions about processing the storm shelter tax credit, contact Alabama Department of Revenue Individual Income Tax at (334) 242-1170 Option #1.įor more information about how to register, click here. **For questions about documentation for the storm shelter tax credit, contact Alabama Emergency Management Agency at (205) 280-2200. After which, AEMA will issue a credit certificate to the taxpayer.Īlabama EMA is in the process of creating a website where documentation can be submitted. Alabama Emergency Management Agency, in conjunction with the Alabama Department of Revenue, is tasked with administering the provisions of the Alabama Storm Shelter Tax Credit Act.ĪEMA’s responsibility is to collect an annual information report filed by the taxpayer, which reflects the costs for construction, acquisition, or installation of the qualified storm shelter at the primary residence, along with additional information as required by the AEMA.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |