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Taxes

Corporate Income Tax

  • None, for 10 years, if you are a manufacturer, processor, distributor, wholesaler, and/or R&D facility which locate which is creating at least 10 new jobs.

Franchise Tax

  • None, for 10 years, if you are a manufacturer, processor, distributor, wholesaler, and/or R&D facility which locate which is creating at least 10 new jobs.

Personal Income Tax

  • First $5,000 of taxable income=3%
  • Next $5,000 of taxable income= 4%
  • Remaining taxable income= 5%

Workers’ Compensation

Unemployment Insurance Rates

  • New Employer Rates
    • New employers pay 1.24% in 1st year
    • 1.34% in 2nd year
    • 1.44% in 3rd year