State Credits and Incentives Overview

 

Each year, billions of dollars in federal, state, and local Credits are available to qualifying companies. There are thousands of different Credit and Incentive programs available nationwide. States typically offer incentives for many reasons, including trying to attract new businesses and to keep existing jobs from moving out-of-state.  New Credits and Incentives programs are created every year for many reasons.  In addition, many Incentive programs now offer refundable cash dollars to the awarded company, especially for local start-up technology companies, in order to provide them with cash so these companies can create new businesses and jobs.

TBIG’s tax professionals have extensive collective experience in identifying, securing, and administering valuable state and local Credits and Incentives for companies ranging from start-up entities to Fortune 1000 companies. Our tax specialists have extensive experience serving in government, as well as in the private and consulting sectors.

TBIG’s Credits and Incentives practice identifies opportunities including: State Enterprise Zone Credits, State Income/Franchise Tax Credits, State Hiring Credits, Jobs Tax Credits, Job Training Credits, Research and Development Credits, Investment Credits, Brownfield Credits, among others.

Credits are available by statute and may be claimed against current state tax liabilities, carried forward, or claimed retroactively resulting in a refund to the company.  Generally, Credits offset state income or franchise tax liability, but can also be applied against other taxes, such as sales and use or property tax.

 

 

Are you thinking of Expanding or Relocating?

Having established a long-term relationship, The Business Incentives Group will provide you with a proactive plan to maximize your company's savings.

 

State and local incentives, as well as other tax credits, abatements and negotiated benefits can generate millions of dollars in savings for your company. Having established an 8 year relationship with Economic Development officers and Government officials, TBIG will work to secure the best deal for your company.

 

 

Comprehensive Consulting Service

We will tailor the most beneficial incentive package for your company, including:

 

Consultation for new site development and facility expansions
Research for demographic studies and incentive opportunities
Negotiation with appropriate agencies to secure incentive and cost reimbursements
Coordination with your executive team to maximize your project's incentive savings