| State: |
KY |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Jobs Credits |
| Description: |
1. KENTUCKY JOBS DEVELOPMENT ACT(KJDA)- Nonrefundable tax credit against the state income tax for new and expanding service and technology related projects. The 100% tax credit & up to a 5% job assessment fee of the gross wages of every employee whose job is created by the project.based upon approved start-up and facility charges.
2. KENTUCKY INDUSTRIAL DEVELOPMENT ACT(KIDA): See Investment Credits under Income/Franchise Tax Incentives and Credits
3. KENTUCKY RURAL ECONOMIC DEVELOPMENT ACT(KREDA): See Investment Credits under Income/Franchise Tax Incentives and Credits
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| Eligibility Requirements: |
The following businesses are eligible for the credit: a service or technology related company, research & development, or any other nonmanufacturing non-retail "white collar" job. 75% of company revenues must be generated by out of state services. 15 new full time jobs must be created and filled by Kentucky residents at the project site. The project needs local community approval prior to submission. Unused credits may be carried forward for the term of the agreement. |
| Geographic Restrictions: |
Statewide |
| Granting Authority: |
Kentucky Economic Development Finance Authority (KEDFA) |
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