Hi, I’m Terry McMillan with McMillan Associates. And today I’d like to give you an overview of various state tax credits. Now of course, this depends on the state that you’re in, but generally running from 20 to 40 different, separate and distinct tax credits that are available in your state. For example, if you add jobs, some state offer up to $14,500 per job, per year, for five years. If you make investments in equipment, in certain industries you can receive up to eight percent of your total investment including installation costs back in tax credits. If you are in a certain location area in the state, and this can be based upon the county that you’re in, it can be based upon the census tract that you’re in in that county. It depends on the area that is identified by the Economic Development Department for development of that certain tract of land. And if your business happens to be in that or you are located in that area, there are additional state tax credits available to you.

The historic tax credit, for instance, some states offer up to $300,000 in state tax credits for a rehabilitation of an historic building where your business maybe located. There’s also credits that deal with certain hiring requirements that you have in that particular state. Those include, hiring from certain categories the state may have identified for additional incentives from the state.

For additional information, contact us at www.MCATaxCredits.com. Thank you.