On June 22, Delaware Gov. Jack Markell (D) signed S.B. 40 into law, increasing the tax credits available to companies that create jobs in Delaware in general, but added extra incentives for manufacturers of clean energy systems. The new law, Delaware's Blue Collar Job Credit program, allows an eligible business that hired five or more workers and invested at least $200,000 in a qualified facility could take a $400 credit against the corporate or personal income tax for each qualifying job and each $100,000 increment of qualifying investment. For clean technology businesses (producing anything from fuel cells or solar, wind, or geothermal power), the credit rises to $750 and makes that company eligible for a lower gross receipts tax rate.
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DE increases tax incentives for creators of new clean energy manufacturing jobs
- Mintz Levin Cohn Ferris Glovsky and Popeo PC
- David Leiter and Sarah Litke
- USA
- June 26 2011
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Dr Jürgen Fegbeutel
Legal Services Director
BMW (South Africa) (Pty) Ltd
