KOZ, or Keystone Opportunity Zones, are commercial, industrial and residential sites where most state and local taxes have been eliminated.
Taxes waived by the KOZ include:
- State corporate net income tax.
- State capital stock and foreign franchise tax.
- State personal income tax.
- State sales and use tax.
- Local earned income/net profits tax.
- Local business gross receipts, business occupancy, business privilege and mercantile tax.
- Local real property tax.
- Local sales and use tax.
Pennsylvania is a leader in providing the business community with new tools and incentives to attract and grow revenues, profits and employment opportunities.
Out-of-state businesses moving to a KOZ site need to own or lease property within a zone for at least half the tax year to claim an exemption from state and local taxes.
In-state businesses moving to a KOZ must either increase full-time employment by at least 20% in the first full year OR make a capital investment equal to 10% of the prior year's gross revenues.
Applications for benefits must be filed by December 31 of the calendar year in which benefits are being sought.
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