Tax Credits & Incentives

State tax incentives have been in existence for years, yet many businesses are still unaware that states offer a wide range of incentives that could either reduce their tax liability or provide them with financial resources. Schenck Business Solutions’ SALT team can assist a business with identifying, quantifying, negotiating, and planning for all the incentives a state may have to offer.

Tax Credits
Tax credits offered by states vary by type, qualification, requirements and amount. Schenck’s SALT professionals can help identify the types of credits that are available in your industry and business, and help you get the tax credits for which you qualify. Some of the types of credits offered include:

	•	Investment Credit

	•	Research and Development Credit

	•	Training and Education Credits

	•	Jobs Credit

	•	Energy Credits

	•	Enterprise Zone/Targeted Economic Development Credits

	•	Other Credits

Credit Studies
Schenck Business Solutions can help you to identify tax credit opportunities (e.g., jobs and training credits, investment tax credit, research and development credit, zone credits, etc.) by analyzing your company’s operational attributes, such as employment growth, capital purchases, research activities, location of operations, and more. A credit study can result in retroactive and prospective tax benefits for the company.

Financial Incentives
In addition to providing tax credit related incentives, states, along with their department of economic development and municipalities, may provide a wide variety of financial incentives to businesses. Schenck Business Solutions can help a company navigate and negotiate its way through and with the various state and local agencies that may be able to provide financial assistance and other incentives. These incentives may vary by locality and may include:

• Sales and use tax exemptions and reduced rates applied to qualified purchases.
• Real and personal property tax abatements and reduced assessments.
• Grants for job hiring, employee training, research and development, etc.
• Favorable financing (e.g., tax incremental financing, loan guarantees, reduced interest rates, deferred payment terms).
• Infrastructure development assistance.
• Utility, energy and telecommunication incentives.
• Relocation assistance