Job
Expansion and Investment Credit Act
The State of Kansas grants an income tax credit to encourage new
business facilities. The Job Expansion and Investment Credit Act allows
for a qualifying business to receive the tax credit for a period of
up to ten years. The qualifications are simple and many businesses
will qualify. The credit can amount to as much as 50 percent of the
total income tax liability for the year the credit is taken.
Tax
Abatement
Ad valorem (real property) taxes can be abated for up to ten years,
by resolution of the City or County Commission, for businesses meeting
certain criteria set by either commission.
Port
Authority
A Port Authority was created in 1994 through the cooperation of the
City and County in order to retain rail service and continued enhancement
and improvement of the economic prosperity of El Dorado and Butler
County.
Enterprise
Zone
Butler County is designated as a Non-Metro Region Enterprise Zone.
A business using the Job Expansion and Credit Act, that also locates
within the Enterprise Zone, can qualify for further tax credits such
as Job Creation Tax Credit, Investment Tax Credit and refund of State
sales tax.
Freeport
Law
The Kansas Freeport Law is designed to provide tax relief to interstate
businesses. In order to qualify for Freeport Law exemption, a business
must show that the final destination of at least 35% of the previous
year's sales or shipments from the storage area was to a point outside
the state of Kansas.
Industrial
Revenue Bonds
Businesses that qualify for tax-exempt industrial Revenue Bonds (IRBs)
enjoy numerous benefits:
