The Rural Opportunity Initiative Enhanced Job Tax Credit (Tennessee)

From Open Energy Information


Last modified on February 12, 2015.

EZFeed Policy

Place Tennessee


Applies to States or Provinces Tennessee
Name The Rural Opportunity Initiative Enhanced Job Tax Credit (Tennessee)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive, Personal Tax Incentives
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
Active Policy Yes
Implementing Sector State/Province














Program Administrator Tennessee Department of Economic and Community Development
Primary Website http://www.tn.gov/ecd/BD_business_tax_credit.html#jobs
Applicable Jurisdiction Tier 2 and Tier 3 as designated by the Commissioner of Economic and Community Development


Last Review 2014-09-15


Information Source http://www.state.tn.us/revenue/taxguides/bustaxguide.pdf


Summary

The Rural Opportunity Initiative Enhanced Job Tax Credit program provides enhanced job tax credits to businesses locating or expanding in certain Tennessee counties considered Tier 2 or Tier 3 Enhancement Counties, which are rural areas targeted for economic development. If a qualified business enterprise locates or expands in a Tier 2 or Tier 3 Enhancement County, the company will be eligible for an annual Enhanced Job Tax Credit of $4,500 for each qualified job, provided that the job remains filled during the year in which the credit is being taken. The annual credit may be used to offset up to 100% of the company's total franchise and excise (F&E) tax liability each year for a three-year period in Tier 2 counties and a five-year period in Tier 3 counties.


Policy Contact

Contact Name Bill Hagerty
Department Tennessee Department of Economic and Community Development
Division Comissioner
Address Eleventh Floor, 312 Rosa L. Parks Avenue, Nashville, TN, 37243


Phone 615-741-1888


Email Bill.Hagerty@tn.gov
Contact Name Bestsy Van Dam
Department Tennessee Department of Economic and Community Development
Division Executive's Assistant
Address Eleventh Floor, 312 Rosa L. Parks Avenue, Nashville, TN, 37243


Phone 615-741-8915


Email Betsy.Vandam@tn.gov


Authorities (Please contact the if there are any file problems.)

Authority 1: Tenn. Code 67-4
Date Effective 2010


Authority 2: Tenn. Code 67-4-2004 (9)
Date Effective 2010


Authority 3: Tenn. Code 67-6-346
Date Effective 2010















References