By Daniel L. Bamberg
Alabama State Senator Cam Ward along with Alabama State Senator Phil Williams have introduced a bill which they say will give employers incentives to create jobs. These bills will give tax credits to employers who meet criteria of employers or business expansion for new jobs.
“With unemployment being at 9 percent, nothing is a cure-all, but this will help a lot,” explained Senator Ward whose district includes industrially underdeveloped and economically distressed Bibb County.
The tax credit would apply for employers who add at lest 10 full time jobs and continue those for a span of 2 years. In counties which are considered distressed a maximum of $8,000 in tax credit will be available for each new full-time job. The minimum tax credit, for counties with more development will be as low as $1,500.
A jobs tax credit would be available for employers with less than 100 employees who increase employment by two or more full-time jobs if the gross wages of the jobs amount to a minimum of 120 percent of the county or state average per capita income.
“That would depend whichever of those is lower,” explained Senators Ward and Williams.
The maximum credit would be $4,000 for each new job in a distressed county and down to $750 for those in less distressed counties. Tax credits would also be available to
businesses for infrastructure improvements and new public construction.
No comments:
Post a Comment