Wednesday, May 23, 2012

Accounting & Tax News

G.R. Reid Associates, LLP

Certified Public Accountants
631.425.1800



State & Local Tax Credits and Incentives


New York City Green Roof Tax Credit 
You may qualify for a real property tax abatement if you constructed a "green roof" covering at least 50% of a building’s rooftop space on a class one, two, or four building.

Connecticut Enterprise Zone Credit And Exemption
If you have a qualified business located in an Enterprise Zone, you may be entitled to a tax credit for 10 years or be exempt from sales and use tax.

New York Brownfield Redevelopment Credit 
A 10% to 20% credit may be available to you for the costs of certain site preparation, tangible property, and ground water remediation.

New Jersey Enterprise Zone Tax Credit And Exemption 
You may be entitled to a tax credit for hiring new employees or investing within an Enterprise Zone (EZ) and may be exempt from sales and use taxes for certain purchases of property and services used within the EZ.

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