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Home > State Tax Incentive Services
State Tax Incentive Programs and Services
State Tax Incentive Programs are available in all 50 states and offer an array of lucrative state and local programs. Most of these programs go virtually unclaimed, with only 10% are ever utilized. Geographic programs offer employers incentives to grow their businesses in areas identified by zones that are targeted as low income or areas identified for community renewal and growth. State programs such as Training Grants, Sales and Use Tax Recovery and Property Tax Incentives are also available in targeted areas. EBI has the knowledge and expertise to research these state funded tax incentive programs so you can take advantage of all the savings. Here are just a few of the state and local programs available.
Enterprise Zones (EZ's)
Similar to the concept behind the federal empowerment zones, states provide incentives for businesses that locate in designated areas or “zones” in order to promote business growth. Yet, even when a business is aware that it is located in a zone, it can be difficult to know just what incentives are available and how to apply for them. EBI monitors all tax credits offered in all 50 states. We identify the exact location of a client’s facility in comparison to the boundaries of an existing enterprise zone. EBI then provides a report listing the incentives a company can qualify for based on their physical locations. These site-specific enterprise zones can generate lucrative tax credits, and EBI will secure and administer all the entitled benefits. |
Job Tax Credits
Statewide job tax credits are a preferred method for states to promote and assist new and expanding businesses. These incentives offset the costs of creating or expanding a company’s workforce. While in the process of hiring, it’s easy for businesses to miss out on these state specific incentives. EBI has the experience to ensure our clients obtain the maximum possible benefit from statewide new hire incentives. States and municipalities tax incentives are available for businesses that create jobs or retain their workforce under certain conditions. EBI understands the myriads of state guidelines that regulate the type of business and projects eligible for such incentives. |
Job Training Grants
With global market forces more apparent, and the premium on highly skilled employees, governments view worker training programs as a viable economic development strategy. Employment training and retraining increases an employee’s skill set, productivity and performance. EBI will identify and secure new and incumbent worker training, skill upgrades, and capital investment awards on your behalf. We will manage a company's compliance with statutory reporting and documentation requirements, and manage the relationships with the local government to ensure the application and reimbursement requests are processed and approved quickly. In addition, EBI will provide a comprehensive reporting of the funding status to satisfy the internal project tracking requirements.
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Geographic Based Incentives
EBI monitors hundreds of geographic based tax incentives available to businesses throughout the United States. A company’s day to day business such as increases in employment, or improvement s to machinery and equipment can generate lucrative tax incentives. Geographic incentives are also available to companies expanding or consolidating. Many states offer incentives and credits for even a minimal increase in employment. EBI will map your geographic locations to state specific incentive opportunities.
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Sales & Use Tax Recoveries
Companies with multi-state transactions often overpay sales and use taxes. Sales and Use Tax legislation is diverse and constantly changing, and companies lose thousands of dollars by not staying current. EBI has the ability to assist small proprietors to multi-national corporations, in all industry sectors, with their Sales and Use Refunds, Exemptions and Reductions. EBI works with your internal departments to minimize their tax expenses and audit exposure. EBI's staff of tax specialists will perform a complete analysis of all capital transaction expenditures to determine Sales and Use overpayments. |
Property Tax Credits/Abatements
Offered by most states, Property Tax Credits and Abatements are exemptions and abatements from taxation of property, both real and personal. EBI will negotiate on your behalf to abate a certain percentage of property tax for a specific number of years. |
State Point of Hire Tax Credits
Wage based credits worth over $36,000 per eligible employee are available for hiring individuals from targeted groups such as welfare recipients, disabled workers and employees who reside in economically distressed areas. An example is the California Enterprise Zone Tax Credit opportunity. The qualifications for an eligible CAEZ employee are similar to the qualifications for the Work Opportunity Tax Credit (WOTC). EBI's technology and administration process will yield the greatest return for hiring credits for our clients, and capture additional tax credits available in the designated areas. |
California Enterprise Zone Tax Credits (CAEZ)
The California Enterprise Zone (CAEZ) Program targets economically distressed areas throughout California. A CAEZ business earns hiring tax credits by employing individuals from certain targeted groups. Up to $34,700.00 can be claimed over a five-year period for each eligible hired employee. The employer can take a tax credit of 50% of wages paid to a qualified Enterprise Zone employee in the first year of employment; subsequent years decline by 10%. EBI can retroactively identify and process California tax credits for companies, regardless of their size, by simply reviewing employment information such as employee name, start date and home address. |
Sellable Tax Credits
The buying and selling of unused tax credits and Net Operating Losses (NOL’s) is widely used by growing corporations throughout the United States as a means to acquire cash to grow their business. EBI's Sellable Tax Credit Service will determine if you meet the criteria to buy and sell tax credits, and then facilitate the entire process from application through to closing. |
Investment Tax Credits
Investment Tax Credits are tax credits based on investments on qualified machinery and equipment purchases. Most states offer investment tax credits. EBI can help identify these credits so employers can purchase needed equipment to grow their businesses even faster. |
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