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OK SB1677
Bill
AI Summary
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Establishes a corporate headquarters tax credit equal to 20% of qualifying real property costs if establishment creates at least 40 new direct jobs with minimum 20 headquarters staff employees
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Provides alternative 20% credit on qualifying tangible personal property costs if establishment creates at least 75 new direct jobs with average compensation exceeding 1.5 times state per capita income
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Limits credit to single taxable year when headquarters is established or placed in service; disallows credit for property replacing previously credited property or for employees shifted from existing in-state locations
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Allows unused tax credits to carry forward for up to 10 years if credit exceeds current year tax liability
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Takes effect January 1, 2013
Legislative Description
Income tax; providing for tax credit for establishment of corporate headquarters; setting amount of credit. Effective date.
Revenue and Taxation
Last Action
Second Reading referred to Finance Committee then to Appropriations Committee
2/7/2012