Credits and Incentives
Tax credits and other business incentives vary considerably among countries, states and even regions within states. As a result, most businesses have neither the time nor the resources to understand, access and manage the credits and incentives process in the jurisdictions where they operate now or may operate in the future.
Your firm may be able to obtain business incentives if you plan to engage in any of the following activities:
- Relocation or expansion of facilities
- New construction
- Lease renewal
- Investment in machinery and equipment
- Research and development expenditures
- Hiring and/or job training
- Mergers and acquisitions
- Downsizing/consolidation
While incentives vary among locations, some typical ones include:
- Property tax abatements and exemptions
- Job creation tax credits
- R&D tax credits
- Investment tax credits
- Tax increment financing (TIF)
- Low-interest financing
- Grants for hiring and job training
- Withholding tax rebates
BDO's Business Location Incentives and Site Selection (BLISS) professionals provide a full suite of services to our clients, including identifying and comparing credits and incentives across competing locations, negotiating and/or applying for the available incentives, and providing ongoing compliance so that they may monetize all the credits and incentives to which they are entitled. Beyond these services, BLISS professionals also review previously filed returns to determine if our clients may have failed to claim credits to which they were entitled and, if so, assist the companies to capture those benefits.
