Promoting Employment Across Kansas (PEAK) (Kansas)
Last modified on February 12, 2015.
|Name||Promoting Employment Across Kansas (PEAK) (Kansas)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
Promoting Employment Across Kansas (PEAK) allows for the retention of employee payroll withholding taxes for qualified companies or third parties performing services on behalf of such companies. This program offers qualified companies the ability to retain 95 percent of their payroll withholding tax for up to five to seven years. PEAK is available to new operations in Kansas as well as relocated operations to the state. Companies need to create at least 10 new jobs within two years in metropolitan areas or five new jobs within two years in all other counties of the state. High-impact projects that create 100 new jobs within two years can retain 95 percent of payroll withholding tax for up to seven to 10 years. The number of years that the withholding tax can be retained depends on how much the annual median wage of the jobs at the Kansas worksite will exceed the current county median wage and the discretion of the Secretary of the Kansas Department of Commerce.
|Contact Name||Barbara Hake|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Kansas Statutes Annotated 74-50,210 through 74-50-216|