It is a challenging time to grow a business. So, any help you
can get in the form of tax credits, tax exemptions, grants,
low-cost financing and other incentives can make a big difference.
Unfortunately, these incentives often go unclaimed. Why? In most
cases, businesses have to ask for them — either by claiming
benefits on a tax return or negotiating with a state or local
government — and that means they have to know about them.
The credits and incentives available to businesses are too many
to mention — plus, they vary from state to state, locality to
locality and even year to year. But the work involved in
identifying and claiming these incentives can pay off, especially
in today’s competitive environment. Let us examine two types of
incentives available — statutory and discretionary —
and outline some potential benefits.
1. Statutory Incentives
Some incentives — such as federal or state tax credits…
