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INCENTIVE DESCRIPTION
| State: | KY |
| Incentive Type: | Income/Franchise Tax Incentives and Credits |
| Incentive Title: | Other Tax Credits |
| Description: | 1. KENTUCKY ENVIRONMENTAL STEWARDSHIP ACT(KESA): Tax credit provided to those businesses who produce a product that has a reduced adverse impact on human health and the environment when compared to one currently on the market. 2. UNEMPLOYMENT TAX CREDIT: $100.00 tax credit for each new employee hired who was previously unemployed. 3. G.E.D. STATE INCOME TAX CREDIT: Tax credit given to an employer for the amount of time the employee spends studying for the G.E.D. |
| Eligibility Requirements: | 1.The business must meet the following requirements: 1. qualified eligible costs of $5 million; 2. costs must have been incurred from the construction or reconstruction of a facility; 3. wages and benefits must meet statutory requirements; 4. Maximum amount claimed is for any one year is 25% of the total authorized inducement; and 5. the company may not take the recycling tax credit. 2. The worker was unemployed for 60 days and is not a close relative, dependent or receives federal payments for on-the-job training. 3. The credit is determined by multiplying 50% of the hours spent studying by the employee's salary. Maximum credit allowed is $1,250.00. |
| Geographic Restrictions: | Statewide |
| Granting Authority: | KEDFA |
| 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. |
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