Comparing Job Creation Incentives Across the U.S.
In his latest piece in Accounting Today, Ben Worrell discusses state-based job creation tax credit programs.
State-based job creation tax credit programs typically provide a tax credit against the state’s income tax liability. That credit may be passed through to the shareholder level in many cases, though it will be reviewed on a case-by-case basis. In other states, credits are sold or brokered if a company cannot utilize the credit. Across the country, job creation tax credits may be refundable, providing excellent value to clients, especially during a new operation or expansion phase where a company may not have tax liability in that state. Each state and each program is different.
As a Shareholder for McGuire Sponsel’s Location Advisory practice, Ben Worrell fosters client relationships by guiding clients through the intricate compliance requirements associated with credits and incentives benefits.
Ben builds confidence in the McGuire Sponsel client relationship by working with clients throughout the duration of their project – not just in a one-off transaction.