Kentucky Small Businesses Urged to Apply for Tax Credits Before Nov. 1

🌎 Resumen en español · traducción automática

El gobernador Andy Beshear está instando a las pequeñas empresas de Kentucky a solicitar créditos fiscales estatales de hasta $25,000 antes del 1 de noviembre ante el Gabinete de Desarrollo Económico de Kentucky, siendo que las solicitudes completas recibidas después de esa fecha podrían no ser elegibles hasta el año fiscal 2026. El programa de Crédito Fiscal para Pequeñas Empresas de Kentucky ofrece créditos de impuesto estatal entre $3,500 y $25,000 anuales a empresas que hayan agregado al menos un empleado de tiempo completo neto nuevo e invertido $5,000 o más en equipos o tecnología calificados en los últimos 24 meses, siendo elegibles la mayoría de negocios con fines de lucro que tengan 50 o menos empleados de tiempo completo. Desde que asumió el cargo, Beshear ha anunciado más de 1,200 proyectos de nuevas ubicaciones y expansiones del sector privado totalizando $43 mil millones en inversiones anunciadas, creando más de 63,000 empleos.

Traducción y resumen generados por IA a partir del artículo en inglés. Puede contener errores; consulte el texto original.

Governor Andy Beshear is encouraging Kentucky small businesses to apply for state tax credits of up to $25,000 by submitting applications to the Kentucky Cabinet for Economic Development. Complete applications received by November 1 will be fully reviewed for 2025 tax-credit eligibility, while those submitted after the deadline may not be eligible until the 2026 tax year.

The Kentucky Small Business Tax Credit program provides state income tax credits ranging from $3,500 to $25,000 annually to eligible companies that have added at least one net new full-time employee and invested $5,000 or more in qualifying equipment or technology within the past 24 months. Most for-profit businesses with 50 or fewer full-time employees qualify for consideration.

“Kentucky’s economy is thriving, and our small businesses are a big reason why,” Beshear said in a statement. “This program helps support our small businesses, just as they’ve supported our local communities and our people through strong investments and good-paying jobs.”

Advertisement

The credit amount depends on the number of jobs created and the amount invested in new equipment or technology. Qualifying businesses can submit applications year-round through the Kentucky Cabinet for Economic Development website, though early submission is encouraged to maximize approval chances for current tax filings.

Since taking office, Beshear has announced more than 1,200 private-sector new-location and expansion projects totaling $43 billion in announced investments, creating more than 63,000 jobs—the highest investment figure in the commonwealth’s history and over $18 billion more than the next highest total.


Sources

  1. Office of the Governor
  2. Kentucky Cabinet for Economic Development announcement on small business tax credits


This article was generated by AI (claude-haiku-4-5-20251001) based on source material from Office of the Governor, enriched with 2 web searches. The original source is available at https://kentucky.gov/Pages/Activity-stream.aspx?n=GovernorBeshear&prId=2830.

View in feeds

Advertisement

Founded & published by