Hiring Tax Credit:
If you hire an eligible employee to work in the Zone, you may qualify for a state hiring tax credit. Each employee your business retains for five years could save you up to $31,606!

Sales and Use Tax Credit:
If you buy manufacturing, data processing, or communications equipment such as computers, copy machines, telephone systems, and fax machines for use in a business inside the Zone, your company may be eligible for the sales and use tax credit. In any year, individuals can claim a credit on the first $1,000,000 of qualifying purchases, while corporations can claim the credit on the first $20,000,000. This credit can be claimed in addition to the Manufacturer's Investment Credit (MIC) you may also qualify to receive.

Business Expense Deduction:
You can deduct the cost of each qualifying item of business equipment, furniture and fixtures (or other depreciable personal property) as a business expense in the year you place it into service maximum deduction of $20,000). You can also depreciate this property as you would normally, giving you additional benefits over the life of the property.

Net Operating Loss Carryover:
Individuals or corporations in the Zone who show a net operating loss may be able to carry that loss over to future years to reduce future tax liability. Minimum taxes may still apply.

Interest Deductions for Lenders:
A bank or individual making a loan to a business whose sole activity takes place in the Zone may deduct direct expenses incurred in making the loan from the interest income. The lender may also take a deduction equivalent to the net interest produced by the loan. As a borrower, this could mean more favorable rates or terms on a business loan.