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BUSINESS REPORT: Virginia’s High-Tech Economy Keeps Growing

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It is a right-to-work state, has a fixed 6 percent corporate income tax rate and has one of the lowest average workers’ compensation costs and unemployment burdens in the U.S., CNBC ranked Virginia as America’s Top State for Business for 2011. which gives it the advantage of stable and low operating costs for business.

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State by State Incentives Guide

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Income Tax Capital Credit: The Income Tax Capital Credit has been available since 1995. The enterprise zone credit is equal to $2500 per permanent new employee and can be applied against the income tax and/or business privilege tax liability. The tax for existing entities accrues as of Jan. The rates range from $.25

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STATE INCENTIVES GUIDE

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INCOME TAX CAPITAL CREDIT: Currently codified as Article 7, Chapter 18, Title 40, Code of Alabama 1975. It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years.

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New Mexico Incentives and Workforce Development Guide

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In addition, a taxpayer who holds an interest in a qualified generating facility in New Mexico that files a corporate income tax return may claim a credit for 6% of the eligible generation plant costs of a qualified facility. The corporate income tax credit is 30% of eligible costs up to $30,000 in any taxable year.

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New Mexico Incentives and Workforce Development Guide

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Rural Jobs Tax Credit: This credit can be applied to taxes due on (state) gross receipts, corporate income or personal income tax. For the purposes of apportioning income, “manufacturing” excludes construction, farming, power generation, and processing natural resources including hydrocarbons. Five-Year Policy Changes: Year.

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LOCATION FOCUS: Texas: Big Heart, Country, Business

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no personal income tax), business-driven tort reform, a variety of incentives and an overall low cost of doing business. By December 2011, Texas employers had replaced all of the jobs shed during the recession compared with the nation’s 44 percent recovery. Department of Commerce) with exports in 2011 totaling more than $249.8

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STATE FOCUS: Lassoing Jobs In Texas

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A key ingredient to Texas’ success is its comprehensive job creation strategy focused on six key industry clusters: Advanced Technology and Manufacturing; Aerospace, Aviation, and Defense; Biotechnology and Life Sciences; Information and Computer Technology; Petroleum Refining and Chemical Products; and Energy. TOMBALL IS TRUE TO ITS ROOTS.

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