TAX INCENTIVES LIBRARY

There’s a simple, risk-free way to find out how much the government owes you. By partnering with a tax credit specialist you’ll be able to count on a thorough knowledge of tax credit law, incentive designs, limitations and documentation, as well as ongoing modifications of program and documentation requirements. Some of the benefits you can receive include:

• Cash refunds on monies paid to the government
• Savings on the purchase of machinery and equipment
• Tax free income on a portion of your earnings
• Free advanced screening of job hire candidates to substantially increase your rewards
• Experienced professionals with access to 35 in-depth programs.

Do you qualify?

Federal Tax Incentives

Federal resources have recently increased in the form of economic incentives and tax credits. The U.S. Department of Housing and Urban development, alone, recently announced an additional $17 billion in tax incentives has just been made available. These funds have been made available because the Federal government is acutely aware of the value of job creation and bringing employment to much-needed communities. Other business activities that can improve distressed communities include investment in new facilities or expansion of existing facilities, plus relocating to these designated communities. When business grows a community flourishes so it’s a win-win for the local economy.

The primary categories of state tax credit programs are three-fold.

Incentive Zone Programs:

Credits available to businesses located within specific geographic boundaries. These credits cover a variety of tax-benefit related programs, which can range from sales and use tax credits, employee-based tax credits, to net-interest deductions for lenders and low-income financing. There are a myriad Incentive Zone programs currently available which vary in complexity, reward, and requirements.

Targeted Job Credits:

Tax credits related to the hiring and employment of targeted groups of individuals are generally based on personal, financial or employment characteristics of the individual among many other factors.

R&D Tax Credits:

Tax credits available for increases in qualified research expenses, which include Qualified Wages, Qualified Supplies and Qualified Contract Research. These credits are designed as an incentive to complete product development and certain basic research activities.

State Tax Incentives

State governments have become acutely aware of the value of job creation, and bringing employment to local communities. In addition, certain other activities contribute to the economy and therefore fulfill a public purpose. Those activities included investment in new facilities or expansion of existing facilities, or the purchase of equipment. Such activities can markedly improve the local economy and contribute to the state economy as a whole.

Incentive Zone Programs:

Credits available to businesses located within specific geographic boundaries. These credits cover a variety of tax-benefit related programs, which can range from sales and use tax credits, employee-based tax credits, to net-interest deductions for lenders and low-income financing. There are a myriad Incentive Zone programs currently available which vary in complexity, reward, and requirements.

Sales and Use Tax Credits:

Credits available to businesses based upon the purchase of qualified equipment. These programs vary and are frequently limited to certain types of equipment and businesses. Benefits can range up to 14% of qualified cost.

Targeted Job Credits:

Tax credits related to the hiring and employment of targeted groups of individuals are generally based on personal, financial or employment characteristics of the individual among many other factors.

Training Incentives:

For training or re-training qualifying individuals, reimbursements, grants, and tax credits are available to compensate employers for qualified training costs and expenses.