| Tax credits are
available to eligible companies located within a KIZ. A
company may claim a tax credit equal to 50% of the increase
in that company' s gross revenue from year one to year two.
In the event the company posts a revenue increase but doesn'
t maintain the tax liability then the company may sell the
credit to another Pennsylvania based firm. The purchasing
company will then apply the credit. The tax credit shall
not exceed $100,000 annually and may be carried forward
for up to four years.
Example:
Year 1,
ABC Company' s gross revenue = $40,000
Year 2,
ABC Company' s gross revenue = $60,000
Year 3,
ABC Company may apply for a tax credit of $10,000 or sell
the credit to another PA based company for $10,000. (50%
of the $20,000 increase in gross revenue from year 1 to
year 2.)
Applications must be filed by September 15 of each year,
beginning on September 15, 2006.
Internships:
As the KIZ coordinator, NPTI can help you find an intern(s)
and will provide the student a stipend up to $1,000.
Any interested and eligible companies should send the KIZ
coordinator a job description of the internship position.
NPTI will work with the thirteen local college and university
career development offices to help you recruit your intern(s).
A $1000 stipend is available to the student to offset a
portion of the cost to hire an intern(s). The stipend is
payable to the student in increments of $500 at 75 hours
and 150 hours.
Preferential Consideration
for DCED Programs:
KIZ eligible companies applying for DCED programs, including
but not limited to PIDA, MELF Funding and Job Creation Tax
Credits, will receive preferential consideration. In simple
terms, a company' s application moves from the bottom of
the pile to the top in an effort to expedite corporate growth
within the KIZ.
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