Category Archives: Tax Credits

Carrot on a stick
10.27.15 |

New York Introduces Employee Training Incentive Program Tax Credit

The 2015-16 New York Assembly budget bill1 added the Employee Training Incentive Program2, which provides approved New York taxpayers with a training tax credit, effective for tax years beginning on or after January 1, 2015. The amount of credit available to an approved taxpayer is equal to the following: 50 percent of the taxpayer’s eligible…Read More »


Nine States Could be Subject to a FUTA Credit Reduction in 2015 (See UPDATE)

UPDATE to FUTA CREDIT REDUCTION The end of the calendar year is approaching quickly and businesses need to be mindful of the various deadlines that can affect them, including the November 10 deadline for states that have outstanding Federal Unemployment Trust Fund loans that are being used to help states pay for unemployment benefits. These…Read More »

sunset and sea waves icon
10.19.15 |

Florida Issues Guidance on Sunset of Enterprise Zone Program

The Florida Enterprise Zone program  (the “Program”) is set to expire on December 31, 2015 (except for certain extensions).1 In anticipation of the expiration of the Program, the Florida Department of Revenue (DOR) has issued Tax Information Publication #15ADM-04, which addresses various transition rules related to the sunset of the Program. Here are some highlights…Read More »

fed limits 150

[Infographic] What Employers Need to Know About Federal Limits in 2016

It may read October on the calendar, but it’s never too early for employers to start thinking about 2016 and understand upcoming changes that may impact their business. This infographic on federal limits outlines important information for employers regarding Medicare taxable earnings, the tax rate for Social Security and tax credit provisions. View the PDF version…Read More »

welcome to Mississippi blue grunge square stamp
09.24.15 |

Mississippi Tax Credit Encourages Manufacturing Companies to Stay Local

A big challenge in today’s economic environment is the need to retain homegrown businesses even as states compete with each other for jobs and talent. Tax incentives are one way states can encourage existing businesses to stay local. Mississippi offers eligible local businesses that are either relocating to or expanding within the state a range…Read More »

US Virginia quarter dollar
09.15.15 |

VA’s Major Business Facility Job Credit Creates Opportunities for Area Businesses

The Commonwealth of is known for being a pro-business state. In the last ten years, manufacturing companies have invested more than $16 billion dollars and created over 70,000 new jobs, according to the Virginia Economic Development Partnership.1 Over $8 billion in investments have poured into the state from international companies during that same period.2  The…Read More »

lobster on white
09.09.15 |

Maine Eliminates Several Credits, Including Jobs and Investment Credit

After a contentious legislative process, the Maine Legislature decided to override Governor Paul LePage’s veto to enact a 2016-17 budget bill.1  Personal income tax provisions in the new budget include personal income tax rate reductions, a new Maine standard deduction, a new refundable Sales Tax Fairness Credit and expanded eligibility for the Educational Opportunity Credit.2…Read More »

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09.02.15 |

Negotiating the Complex World of Transferable Tax Incentives

There are many tax credits and incentives available to businesses today. To date, there are 46 states that offer some form of tax credit.[1] These incentives can be effective tools to help businesses increase their bottom line by offsetting overhead and operating costs. Some tax incentives are relatively straightforward, easy to understand and clear on…Read More »

Grunge state of Colorado flag map
08.27.15 |

Colorado Redesignates Enterprise Zones

At its August meeting, the Colorado Economic Development Commission (CEDC) approved zone redesignations for 14 of Colorado’s 16 Enterprise Zones, marking the first changes to zone boundaries since the zones were first designated in 1996.1 The CEDC also tabled a recommendation to redesignate two Enterprise Zones until its next meeting in September. The redesignated zones…Read More »

Mardi Gras Mask
08.11.15 |

Louisiana Legislature Modifies Tax Credit Provisions

At the close of its current legislative session, the Louisiana legislature passed the following tax bills affecting credits and incentives, which were signed into law by Governor Bobby Jindal on June 19, 2015.  These bills were: H.B. 629, which imposes temporary reductions in credit and incentive benefits. H.B. 635, which further restricts retail eligibility for…Read More »


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