JOBZ Benefits
For qualified businesses, the JOBZ program offers substantial financial benefits in the form of tax savings. Here’s a list of tax exemptions for which your company could qualify by expanding or locating within one of Minnesota's Job Opportunity Building Zones:
- Corporate franchise tax
- Income tax for operators or investors, including capital gains tax
- Sales tax on goods and services used in the zone if the goods and services were purchased during the duration of the zone
- Property tax on commercial and industrial improvements but not on land
- Wind energy production tax, and
- Employment tax credit for high paying jobs
Your actual benefits will be determined by the exact nature of your business expansion, as well as its effective date. JOBZ benefits accrue from the date that your business qualifies and continue until December 31, 2015, when the JOBZ program is scheduled to expire.
By using the simple JOBZ Tax Benefit Calculator you can generate a confidential estimate of your company’s potential tax savings with the JOBZ program.