If the taxpayer places eligible machinery and equipment into service at one site over the course of a two-year period, the applicable threshold is applied only in the first year of that period. A Letter of Commitment must be filed prior to the start of the project. For taxpayers with more than one site in a given tier, the threshold applies only once for that tier. Large Investment Enhancement Qualifying taxpayers can take carry forwards over a twenty-year period. If the taxpayer fails to make the level of investment certified within the two-year period, the taxpayer forfeits the enhancement.
Credit is to be taken in equal installments over four years following the year of hire.
The tier of the county in which the jobs are created determines the amount of tax credit per job. Training Programs do not need advance approval. A Central Administrative Office must hire at least 40 full-time administrative positions to fill new positions at the office . These jobs may be created within the taxable year or in the preceding 24 months while using temporary space for administrative functions during completion of the Central Administrative Office property. The credit is taken in equal installments over the 8 years following the taxable year in which the property is used in this manner.