Tax Candi

Today's incentive is brought to you by my craving for a Philly Cheesesteak. Italian beef is fine and all, but to make a sandwich great, you need neon yellow spread-able dairy products.

Those of you who can handle cheesesteaks on more than a semi-annual basis may be interested in Pennsylvania's Job Creation Tax Credit (JCTC).  Eligible businesses creating at least 25 or increasing their employment within Pennsylvania by 20% within three years may receive $1,000 for each qualifying full-time job.  The JCTC can use to offset a number of state business taxes.  Pennsylvania also has a streamlined application process--companies interested in applying for any state incentive need only submit the aptly named Single Application.  So go ahead, request all the incentives you'd like!

Those companies looking in Philadelphia proper get an added bonus.  Philly has its own JCTC.  The Philadelphia JCTC allows business, again, to claim a credit up to $1,000 for each new job created. This is a one-time credit and may be claimed against Philly's Business Privilege tax.   Philly's program has the same basic requirements as Pennsylvania's--businesses must create at least 25 new jobs to increase their workforce by 20%--but with the added kicker that each new job must pay at least 150% of the federal minimum wage.  (FYI:  The federal minimum wage increases in exactly one month to $7.25.)