IRS Notice 2015-13, “Work Opportunity Tax Credit (WOTC) Extension for 2014.”Â
Employers have until April 30, 2015 to file certification requests (IRS Form 8850) with the appropriate state workforce agency for workers hired from January 1 through December 31, 2014. The notice states:
WOTC Extended Deadline for 2014 IRS 8850 Form Filing Read More »
Effective February 5, 2015, final regulations to implement the California Competes Tax Credits (CCTC) program were adopted. These final regulations are substantially similar to regulations adopted as emergency regulations on November 17, 2014. CCTC is administered by the Governor’s Office of Business and Economic Development (GO-Biz), is a credit against the personal income and the corporation franchise (income) tax for businesses locating or expanding in California, based on an amount negotiated between Go-Biz and the taxpayer (as approved by the CCTC Committee).
California Competes Releases Final Regulations Read More »
Kentucky has increased the amount of Endow Kentucky tax credits that can be awarded annually to $1 million from the current $500,000 in fiscal years beginning on or after July 1, 2016. Additionally, the Kentucky Industrial Revitalization Act (KIRA) credit allows approved company projects to undertake supplemental projects during or within 24 months following the
Kentucky Incentives Get a Boost Read More »
For agreements entered into with the Department of Cultural Affairs on or after July 1, 2014, Iowa has made revisions to the existing historic preservation and cultural and entertainment district tax credit. An eligible taxpayer who has entered into an agreement for the successful completion of all requirements of the program is eligible to receive
Iowa Historic Preservation and Cultural and Entertainment District Credit Read More »
Senate Finance Committee Chairman Ron Wyden (D-OR) led the Finance Committee yesterday to pass bi-partisan legislation renewing a set of provisions known as tax extenders that have expired or will expire at the end of this year. The bill, entitled the Expiring Provisions Improvement Reform and Efficiency Act (EXPIRE) was approved by bi-partisan voice vote.
Tax Extenders Legislative Update Read More »
An extension from 2014 to December 31, 2017 has been approved for businesses pursuing the historic property rehabilitation and income tax credits. Business now have until December 31, 2017 to either have a certificate issued evidencing an eligible historic property rehabilitation credit or receive a determination in writing that Mississippi Department of Archives and History
Mississippi Historic Property Rehabilitation Credit Extended Read More »
With the California Enterprise Zone Program (CAEZ) allowed to expire, California continues its efforts to encourage businesses to create jobs and make investments in California with new and expanded tax credit and incentive programs.
California Continues to Encourage Businesses Growth Read More »
On September 15, Senate Finance Committee Chairman Ton Wyden raised the issue of the expired tax provisions, issuing the following statement on the need to renew expired tax provisions to give certainty and relief to American workers and businesses:
Senator Wyden Urges Renewal of Tax Extenders Read More »
The Microenterprise Act provides an individual actively involved in micro-businesses a refundable individual income tax credit based on demonstrated growth of the business over two tax years in an eligible area. For applications filed on or after January 1, 2014, all Nebraska counties are eligible with the exception of specific areas. The Microenterprise Act provides
During the 2014 legislation session, the credit cap for the new markets tax credit was increased from $5 million to $10 million. The New Markets Development Program Tax Credit provides a person or entity, making a qualified equity investment, a credit equal to 39% of the purchase price of the qualified equity investment made by
Kentucky New Markets Tax Credit Cap Increase Read More »
