Jean publishes a blog called the Enterprise Corner. It features articles on entrepreneurship, local industry trends, manufacturing news and periodic ‘toolbox’ articles showcasing assistance, incentives and other resources for local businesses.
Yakima County manufacturers are once again eligible for a significant sales tax credit when they construct or renovate buildings. Companies taking advantage of this program can essentially eliminate sales taxes normally due on facility construction or renovation activities. Local companies can take advantage of this incentive program starting this July.
The state tax credit is available to companies engaged in the following activities:
There are several key steps companies must take to qualify for this new sales tax deferral program:
Companies MUST file the Sales Tax deferral application before a building permit is issued. Click here to get the application. Companies leasing a new or renovated building can also tap into these credits if their landlord agrees to pass on the program’s benefit to the company. Here is the link to the Lessor application High Unemployment County Application for Sales and Use Tax Deferral for Lessor.
A couple more requirements: All businesses must maintain a qualified activity (ex. manufacturing) at the site of the investment project for the year in which the investment project is certified operationally complete plus seven additional years. Participating companies also need to complete an Annual Survey by April 30th of the following year in which the project is certified and for the following seven years.
Your business may also qualify for other tax incentives. And there are other resources available for established businesses in Yakima County. Click on the links in this article to learn more or contact Jean Brown at 509-575-1140 or email@example.com for information, applications and resources to help your company.