INCENTIVE DESCRIPTION

State:	AZ
Incentive Type:	Property Tax Incentives
Incentive Title:	Other Tax Incentives
Description:	1) PROPERTY RECLASSIFICATION For-profit manufacturers located in an Arizona Enterprise Zone a five-year reclassification of real and personal property for reduced primary taxes is available. Applications for renewal and initial certification (after investment is made) due prior to October 1st every year. 2) ACCELERATED DEPRECIATION OF REAL AND PERSONAL PROPERTY Certified Empowerment Zone Businesses are eligible for (a) accelerated depreciation on new tangible personal property (up to an additional $35,000 write-off in the year that the assets are place into service, and (b)May be eligible for rollover and partial exclusion of gains on sale of qualified assets.
Eligibility Requirements:	(1)Eligible manufacturers must: (a)Invest $2 million in fixed assets, and (b)be a woman-owned, minority-owned or small, and independently owned and operated. (Small means fewer than 100 employees at zone location or less than $4 million total gross annual receipts for all locations. Independently owned and operated means not more than 50% owned by another entity.) (2)Must be sure to qualify as certified Empowerment Zone company prior to taking credits. Companies must conduct most of their business in the zone and must have at least 35% of their employees living in the zone.
Geographic Restrictions:	Enterprise Zones Statewide
Granting Authority:	State of Arizona

The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.