Tennessee Community Resurgence Job Tax Credit
To help encourage job growth in impoverished areas of the state, Tennessee has recently passed legislation which enacts the Community Resurgence Job Tax Credit. Effective July 1, 2015, this credit provides $2,500 for each new full-time job created in a high-poverty area. The credit is available to businesses of any industry type which create at least 10 new full time jobs requiring at least 37.5 hours per week and paying at least the state’s average occupational wage. To be eligible for the credit, a business plan must be filed with the Commissioner prior to the creation of the jobs. Unused credit may be carried forward up to 15 years.
If your business is expanding in Tennessee, please contact Equifax Workforce Solutions to see if you potentially qualify for this credit.
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