My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 1998 11 16
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
1998
>
AG 1998 11 16
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/25/2002 6:09:44 PM
Creation date
11/27/2017 11:52:51 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
11/16/1998
Board
Board of Commissioners
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
341
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
OUTLINE OF PRESENTATION TO COMMERCE DEVELOPERS <br /> <br />A. Overview of bill <br />· Corporate tax reduction to 6.9% over four years <br />· New investment tax credit for machinery and equipment <br />· New worker training tax credit <br />· New research and development tax credit <br />· Expands job creation tax credit statewide <br />· New business property tax credit <br />· New utility account for most distressed counties <br />· Increases per job and per project maximums for Industrial Development Fund <br />· Assorted tax reductions which affect business <br /> <br />B. Philosophy underlying the credits <br />· Recruit new companies into North Carolina, or encourage existing companies to add <br /> jobs or production capacity, upgrade worker training, invest in product related <br /> research <br />· Added capacity, improved competitiveness underlies the various requirements <br />· Also focus on job quality - wage requirement <br />· Greater incentives in more distressed parts of the state for job creation, investment, <br /> or worker training <br /> <br />C. Basics of the credits <br />· Investment Tax Credit: provides credit of 7% of cost of machinery and equipment <br /> placed in service in North Carolina, subject to meeting requirements <br />· Job Creation Tax Credit: provides job creation tax credit of $12,500, $4000, $3000, <br /> $1000 or $500 for each new job over five created. <br />· Research and Development Tax Credit: provides credit equal to 5% of research and <br /> development expenses eligible under the federal R&E credit incurred in NC <br />· Worker Training Tax Credit: provides credit up to $500 per worker ($1000 in Tier <br /> One) for training for eligible employees <br />· Business Property Tax Credit: .provides credit of 4.5% for cost of business property, <br /> up to $100,000 maximum, for property capitalized under the tax code. <br /> <br />Developers' Presentation <br /> <br />8/5/96 <br /> <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.