The program offers substantial tax savings. Your company could qualify for the following the tax exemptions by expanding or locating within one of the Job Opportunity Building Zones:
- Corporate franchise tax
- Income tax for operators or investors, including capital gains tax
- Sales tax on goods and services used in the zone if the goods and services were purchased during the duration of the zone
- Property tax on commercial and industrial improvements but not on land
- Wind energy production tax
- Employment tax credit for high paying jobs
Actual benefits are determined by the exact nature of your business expansion, as well as its effective date. JOBZ benefits accrue from the date that your business qualifies and continue until December 31, 2015, when the JOBZ program is scheduled to expire.
Use our JOBZ Tax Benefit Calculator to generate a confidential estimate of your company’s potential tax savings with the JOBZ program.