State Tax Credits & Incentives
Over 3,000 state and local tax credits and incentives available to US businesses
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Unlocking Opportunities with State Tax Credits
Navigating the complex landscape of state and local tax incentives can be daunting, but for businesses committed to growth, they represent a significant opportunity. With over 3,000 incentives available across the United States, there's potential for significant savings and support in a variety of sectors and situations.
But with so many programs available, it can be challenging to determine which ones are right for your business. That's where OnCentive comes in. Our team of experts specializes in helping businesses navigate the complex world of incentives to find the ones that are most advantageous for your specific needs. We offer comprehensive credit analysis services that ensure your company receives maximum benefit from the available credits, saving you time and money.
Key State Incentive Categories
Geographic-based Incentives
Special credits for businesses operating in specified regions or zones, designed to spur economic development in those areas.
Hiring-based Incentives
Credits available to companies that hire from certain populations or exceed hiring thresholds, supporting both job growth and diverse workforce development.
Research and Development (R&D) Credits
Encouraging businesses to innovate by providing incentives for investments in R&D activities.
Investment Tax Credits
Supporting businesses that make substantial investments in infrastructure, machinery, or other qualifying assets.
Discretionary Grants and Incentives
Sometimes it's not about ticking a box. These incentives are awarded on a case-by-case basis, often considering the unique value or potential a business brings to a community or sector.
Utility Rebates
Savings passed on to businesses that invest in energy-efficient infrastructure or support green energy initiatives.
Property Tax Abatements
Offers businesses reductions or eliminations in property taxes for a specified time, often in exchange for certain commitments, like job creation or infrastructure development.
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Benefits of Tapping into State Incentives
Immediate Financial Relief
Many incentives can lead to direct reductions in tax liabilities, granting immediate financial reprieve to businesses.
Long-term Operating Savings
Strategic utilization of incentives can translate into long-term operating savings, boosting profitability.
Stimulate Growth & Expansion
Incentives often support hiring, R&D, and investments, key drivers of business growth and expansion.
Support for Strategic Business Decisions
Whether considering a new location, a major investment, or a hiring spree, state incentives can play a role in the decision-making process.
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tax credit experts to determine how to best increase your company's profitability.
WHAT'S A TAX CREDIT?
Tax credits are a powerful tool that can help you reduce your taxable income and directly impact your annual tax bill. A dollar-for-dollar reduction of the income tax you owe, a tax credit can reduce the amount of tax you owe or increase your tax refund. Tax credits also differ from deductions and exemptions.