| Description: |
1. THE POLLUTION CONTROL TAX CREDIT provides a 10% income tax credit on real or personal property used to control or prevent pollution.
2. THE AGRICULTURAL POLLUTION CONTROL CREDIT allows for a credit of 25 percent of the cost of agricultural pollution control equipment up to a maximum of $25,000 annually.
3. ENVIRONMENTAL TECHNOLOGY TAX CREDIT A corporation can claim a tax credit for expenses incurred during the construction of any qualified environmental technology manufacturing or processing facilities. The credit is equal to 10% of the amount spent in the taxable year.
4. COMMERCIAL/INDUSTRIAL SOLAR & WIND TAX CREDIT- This credit is available to businesses that install one or more solar or wind energy devices and is equal to 10% of the cost of the installed device. The credit cannot exceed $25,000 with respect to the same building in the same tax year, or $50,000 in total credits in any given tax year. Any unused credit may be carried forward over the next 5 consecutive tax years.
5. HEALTHY FOREST ENTERPRISE INCENTIVES This program offers several incentives to certified businesses that are primarily engaged in harvesting, initial processing or transporting of qualified forest products. The various incentives include: (a) a Use fuel tax reduduction, (b) a transaction privilege tax exemption on equipment purchased, leased, or rented and on construction contracts, (c) a use tax exemption on equipment purchased out-of-state, (d) property tax reduction, and (e) new job income tax credit. 6. MOTION PICTURE PRODUCTION TAX INCENTIVE PROGRAM Qualified production companies are offered the following incentives: (a) Transaction Privilege Tax Exemption on purchased machinery, equipment andother tangible personal property; leased or rented lodging space; sales of catered food, drink and condiments; and consturction contracts for buildings and other structures; (b) Use tax exemption on machinery, equipment and other tangible personal property; and (c) Income tax credit equal to 10%, 15%, or 20% of the company's investment in Arizona production costs.
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| Eligibility Requirements: |
1. Must purchase qualified machinery and equipment. 2. The taxpayer must be engaged in agricultural production, livestock, horticulture, viticulture, or floriculture.
3. The credit can not exceed 75% of Arizona tax income liability.
5. Must be a qualifying business.
6. Company must (a) be primarily (>50%) engaged in the business of producing motion pictures, (b) have a physical office and bank account in Arizona, (c) incur Arizona production costs of at least $250,000 in a 12-month period, and (d) employs Arizona residents in its motion picture productions (at least 25% of the full-time employees in 2006 and a higher percentage in years 2007 - 2010.
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