Tax Credits

The Historic Preservation Tax Credit (HPTC) provides tax credits to qualified taxpayers who will be completing the restoration of a qualified historic structure into an-income producing property. All projects must include a qualified rehabilitation plan that is approved by the Pennsylvania Historical and Museum Commission (PHMC) as being consistent with the standards for rehabilitation of historic buildings as adopted by the United States Secretary of the Interior.

Uses:Tax credits may be applied against the tax liability of a qualified taxpayer which includes an individual, corporation, business trust, limited liability company, limited liability partnership, or any other form of legal business entity. The tax credits awarded to a qualified taxpayer shall not exceed 25 percent of the qualified expenditures as determined by the application in connection with the completed project. The total tax credits awarded to a qualified taxpayer may not exceed $500,000 in any fiscal year.

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Job Creation
Tax Credit

A $1,000-per-job tax credit to create new jobs in the state within three years.

 

Uses: Tax credits used to offset various business tax liabilities.

Funding: $1,000-per-job tax credit to approved businesses that agree to create jobs within three years. Twenty-five percent of the tax credits allocated each year must go to businesses with less than 100 employees.

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Alta Vista is a designated Keystone Opportunity Zone (KOZ). This means that qualified companies will not be responsible for most local and state taxes until 2023, including:

State:

  • Corporate Net Income Taxes

  • Capital Stock & Foreign Franchise Tax

  • Personal Income Tax

  • Sales & Use Tax

  • Bank Shares and Trust Company Shares Tax

  • Alternative Bank and Trust Company Shares Tax

  • Mutual Thrift Institutions Tax

  • Insurance Premiums Tax

Local:

  • Earned Income/Net Profits Tax

  • Business Gross Receipts

  • Business Occupancy

  • Business Privilege & Mercantile Taxes

  • Local Real Property Tax

  • Sales & Use Tax

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An incentive program that provides tax credits to private companies investing in rehabilitating, expanding, or improving buildings or land located within designated enterprise zones.

Uses: Real property improvements such as rehab, expansion or physical improvements to buildings or land resulting in jobs created or retained.

Funding: Tax credits equal 25% of amount invested; Up to $500,000 total tax credits per project.

Contact us for an informational packet.