FRANKFORT, Ky. – Large information for Kentucky small enterprise house owners!

Gov. Andy Beshear reminded throughout Thursday’s Crew Kentucky Replace which you can apply for a tax credit score price as much as $25,000.

Beshear says the small enterprise tax credit score is accessible to eligible firms that added no less than one new full-time worker and invested $5,000 or extra in qualifying tools or expertise throughout the previous 24 months.

Most for-profit companies with 50 or fewer full-time staff will qualify, together with building, manufacturing, retail, service and wholesale firms.

“This program encourages our small companies to develop much more, which advantages their group and our nice state,” mentioned Beshear.

General, the tax credit score quantity you obtain will depend upon the variety of jobs created and the quantity invested in new tools or expertise, with the state earnings tax credit score ranging between $3,500 to $25,000 per yr.

Qualifying small companies ought to apply now to make sure their greatest probability of approval in time for this yr’s tax filings. Functions for the tax credit score have to be in earlier than the tip of the yr.

To study extra about this system and to entry the applying, you possibly can go to ced.ky.gov/Entrepreneurship/KSBTC.