Incentive Program For Kentucky Businesses
12/08/09 | Kentucky Business Network
Governor Steve Beshear signed into law House Bill 3 in June of 2009. This bill, known as Incentives for a New Kentucky (INK), will help streamline and modernize Kentucky’s business incentive program. This bill will help encourage small business, tourism and other forms of development across the state.
Here are some of the details of INK:
- Provides a program for existing manufacturers who need to make a significant capital investment in Kentucky facilities in order to remain competitive;
- Consolidates KIDA, KREDA, KJDA & KEOZ into a single, more flexible tax incentive program for new and expanding businesses;
- Provides a sales and use tax refund for companies that are heavy users of computer and telecommunications equipment; and,
- Expands KEIA to allow sales tax refunds for the purchase of electronic processing systems costing $50,000 or more.
