Tag: New York

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Don’t Forget to Take Advantage of New York’s Offerings

New York’s FY 2014-15 included a number of attractive additions and changes to taxes and incentives.

Corporations may look forward to a reduction in their franchise tax rate from 7.1% to 6.5%, effective January 1, 2016, while manufacturers will enjoy a reduced tax rate from 5.9% to 0% as of January 1, 2014, in addition to refundable income tax credit equal to 20% of the real property taxes paid by manufacturers that own property. Continue reading “Don’t Forget to Take Advantage of New York’s Offerings”

State Tax Credits & Incentives II

The Texas Tax Credit for Clean Energy provides a franchise tax credit for up to 3 clean energy products. The credit cannot be issued before the later of September 1, 2018 or the expiration of an agreement under Chapter 313 of the Texas Economic Development Act regarding the clean energy project for which the credit is issued.

A Maryland health enterprise zone practitioner may claim a hiring tax credit against the 2013 income tax equal to the number of qualified employees certified by the Maryland Department of Health and Mental Hygiene multiplied by $5,000. The credit is available only with an electronically filed return for those practitioners located within a health enterprise zone (Form 500CR section of the return must be completed) along with the certification.

Continue reading “State Tax Credits & Incentives II”

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