| Description: |
1. POLLUTION CONTROL TAX CREDITS are provided to companies employing pollution control technologies or facilities that meet or exceed requirements of the EPA and other state and regional environmental authorities. The taxpayer may take up to 50% of the certified cost of a facility as a credit.
2. THE ELECTRONIC COMMERCE IN DESIGNATED ENTERPRISE ZONE CREDIT is available to qualified businesses engaged in e-commerce in an approved enterprise zone. The credit is equal to 25% of the investment in electronic commerce operations, limited to the lesser of $2 million or the tax liability.
3. THE ENERGY CONSERVATION FACILITIES CREDIT is based upon the certified cost of a facility used to process or use renewable energy resources. The first and second year is 10%. The third, fourth, and fifth year is 5% of the certified cost during the period the facility is certified.
4. THE RESERVATION ENTERPRISE ZONE CREDIT is equal to the tribal property tax imposed on a new business facility that is paid or incurred by the business during the tax year, or the amount of tribal tax paid or incurred by the business during the tax year, if the business has not previously conducted business operations within the reservation enterprise zone.
5. THE SMALL CITY TAXABLE INCOME EXEMPTION provides deductions against the income or corporate excise tax for 10 years. The certified business can subtract the entire income/profits generated by a qualified facility from its overall taxable income.
6. The ENTERPRISE ZONES LONG-TERM INCENTIVE provides a credit equal to 62.5% percent of gross payroll to be used against state corporate excise/income tax liability relating to the facility, over and above an annual minimum payment of state taxes. |
| Eligibility Requirements: |
1:The investment must have one of the following pollution control purposes: 1) It must be installed in response to a requirement imposed by the EPA, the DEQ, or a regional air pollution authority, or 2) It must have an exclusive function to control, prevent or reduce pollution, or for material recovery.3: This includes alternative fuel fleet vehicles, telecommuting equipment, refueling stations, employer-provided transit passes, facilities providing transit passes to students and patrons of medical facilities, certain utilities, and consumer-owned utilities. 4: The Reservation Enterprise Zone credit is allowed to eligible businesses operating a new business facility in a reservation enterprise zone.
5: The location must be an industrially zoned site for a location within the urban growth boundary of a city, the population of which is equal to or less than 15,000. The business must be located inside a county that presently or during one of the past two years was relatively worse-off enough in terms of both annual unemployment and per capita income, based on recent statistics.
6: : Total investment costs need to be greater than 0.5% or 1% of county?s total assessed value by end of the year when operations begin |
