INCOME TAX CREDITS UP TO $9,000 FOR EACH QUALIFYING NEW JOB
The Quality Jobs Tax Credit replaces Arizona's expiring Enterprise Zone Program. It provides per-employee tax credits of $3,000 per new year for up to three years. Credits may be carried forward for five years. Eligibility qualifications are different from rural to metro areas and focus on capital investment and net new job create (5 new jobs rural/25 new jobs metro).
$1.5 MILLION IN REIMBURSABLE GRANTS TO TRAIN EMPLOYEES
Arizona provides reimbursable grants to employers that implement job-specific training plans for new jobs or for training plans that increase the skill level of current employees. Award amounts range from $2,000 to $8,000 per position depending upon company size and location.
NO SALES TAX ON MANUFACTURING EQUIPMENT
Manufacturing equipment purchased withing the state of Arizona qualifies for a sales tax waiver.
UTILITY SALES TAX WAIVER
Manufacturers and processors that utilize more than 50% of electricity or gas to produce their commodity can qualify for a sales tax waiver on their utility bills.
100% ELECTABLE SALES FACTOR FOR MULTI-STATE CORPORATIONS
New legislation increases the electable sales factor for multi-state corporations from 80% to 100% between FY2014 and FY2017. This provides businesses with the opportunity to reduce their tax burden.
QUALIFIED FACILITIES PROGRAM
Offers a refundable income credit equal to the lesser of 10% of the qualifying capital investment, or $20,000 per net new job at the facility.
ACCELERATED DEPRECIATION SCHEDULES
Five-year accelerated depreciation schedules have been increased to help companies recover their investments even faster.