North Dakota Extends and Amends Tax Credits

Automation Tax Credit Extended   North Dakota allows primary sector businesses to claim a tax credit against the purchase of machinery and equipment used in the automation of a manufacturing process.  While this tax ...
Continue Reading

Automation Tax Credit Extended in North Dakota

North Dakota allows primary sector businesses to claim a tax credit against the purchase of machinery and equipment used in the automation of a manufacturing process.  While this tax credit has been extended to the 2016 and 2017 tax years, the funding for the tax credit program has been reduced to $500,000 per...
Continue Reading

Automation Tax Credit Extended in North Dakota

North Dakota allows primary sector businesses to claim a tax credit against the purchase of machinery and equipment used in the automation of a manufacturing process.  While this tax credit has been extended to the 2016 and 2017 tax years, the funding for the tax credit program has been reduced to $500,000 per...
Continue Reading

WOTC Extension Bill Passes Senate Finance Committee

The Senate Finance Committee overwhelmingly approved a tax extenders bill with a vote of 23-3.  In order to enhance passage, only a few amendments were allowed, and none affected a number of significant changes to certain tax credit programs in the original bill. The bill reauthorizes the Work Opportunity Tax Credit (WOTC) Program for a two-year period: Retroactively from January 1, 2015 through December 31, 2016.  The VOW to Hire Heroes Act tax credits for hiring post 9/11 disabled and other veterans also were extended for the same period as were the empowerment zone de...
Continue Reading

New Alabama Jobs Act

The Alabama Jobs Act provides incentives to businesses for projects that create new jobs and whose predominant activity involves chemical manufacturing, data centers, engineering, design, research or metal/machining technology, or for businesses that create new jobs and have a base workforce of at least 50 new employees for all other projects. Unless the program is extended or expanded, project agreements must have been executed on or prior to December 31, 2019, with an aggregate balance of outstanding incentives not to exceed $850 million.  Companies may claim either or both...
Continue Reading

Wisconsin Allows Tax Credits to Expire

Several Wisconsin tax credits expired for taxable years beginning on or after January 1, 2014. While no new credits may be computed, according to the Wisconsin Department of Revenue unused nonrefundable credits computed prior to the expiration date may be carried forward subject to the carryforward limitations of each credit. The following Wisconsin tax credits have expired for taxable years beginning on or after January 1, 2014: Refundable Credits Dairy manufacturing facility investment credit Meat processing facility investment credi...
Continue Reading
Partner Footer Slider