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 »
The franchise tax board has designated three pilot areas for purposes of the New Employment Credit (NEC) against personal and corporation franchise and income taxes until December 31, 2017:
Fresno Pilot Area
Merced Pilot Area
Riverside Pilot Area
California Designates Three Pilot Areas for New Employment Credit Read More »
New York’s FY 2014-15 included a number of attractive additions and changes to taxes and incentives.
Corporations may look forward to a reduction in their franchise tax rate from 7.1% to 6.5%, effective January 1, 2016, while manufacturers will enjoy a reduced tax rate from 5.9% to 0% as of January 1, 2014, in addition to refundable income tax credit equal to 20% of the real property taxes paid by manufacturers that own property.
Additionally, for those businesses participating in the New York Youth Works Program, they will now be allowed a second year’s retention credit for each qualified employee employed for at least one additional year.Â
Don’t Forget to Take Advantage of New York’s Offerings Read More »
As of July 1, 2014, the Idaho State Tax Commission put in place temporary administrative rules, creating a refundable tax credit for qualified businesses entities that create a certain minimum number of qualified new jobs and generate certain new revenue in Idaho.
Idaho Boosts Incentives for Job Creation through the Idaho Reimbursement Incentive Act Read More »
The tax extenders bill H.R. 3474, Hire More Heroes Act, has stalled for the moment in the Senate due to a disagreement regarding amendments. The impasse occurred when Senator Harry Reid (D-NV) moved to consider a cloture motion on Amendment No. 3060 to H.R. 3474. The primary issue at this point is not the support
Tax Extenders Stall in Senate Read More »
The New Jersey Economic Opportunity Act of 2013 was signed into law on September 18, 2013. The Act streamlines New Jersey’s 5 existing economic development incentive programs into 2. The Grow Now New Jersey Assistance (Grow NJ) Program will be the main job creation and retention incentive program. Grow NJ is for businesses creating or retaining jobs and making a capital investment in a Qualified Incentive Area and that meet or exceed minimum employment and capital investment requirements.
Effective May 14, 2014, The Colorado Job Creation and Main Street Revitalization Act provides an income tax credit for costs incurred in connection with the preservation of historic structures.
Colorado Job Creation and Main Street Revitalization Act Read More »
