| State: |
ME |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Investment Credits |
| Description: |
1. JOBS AND INVESTMENT TAX CREDIT: Income tax credit equal to 10% of investments in qualifying types of personal property when new jobs are also created. Limited to $500,000 per year or the tax otherwise due. Credit may be carried forward six years.
2. HIGH TECHNOLOGY INVESTMENT TAX CREDIT: Income tax credit equal to the adjusted basis of eligible equipment placed in service less any lease payments received during the year; cannot exceed $100,000 per year; income must be increased by any credit base amount claimed as a business expense.
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| Eligibility Requirements: |
1. Any business, other than a public utility, must invest at least $5 million during one year in qualifying types of personal property and create 100 new jobs over a two year period.
2. Limited to businesses engaged in high tech activities. |
| Geographic Restrictions: |
Statewide |
| Granting Authority: |
Office of Business Development |
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