The Benefits | Employment Incentive Credit

An employment incentive credit is available to businesses that have utilized the investment tax credit and that creates new employment in the 3 years immediately following the tax year the credit was allowed. The credit each year is equal to 30% of the allowable investment tax credit.

To be eligible, the average number of employees must be at least 101% of the average number of employees employed in the Zone in the year proceeding the taxable year the investment tax credit was allowed.

The employment incentive credit cannot reduce the corporate tax liability to less than the alternative minimum tax or the fixed dollar minimum. Any incentive credit not used in a current tax year may be carried over to the following year or years.

This credit is allowed in conjunction with claiming the wage tax credit.