Property Tax Exemptions
The Coshocton County Enterprise Zone (EZ) program allows companies to locate a facility in any township, village, or city of Coshocton and receive a partial property tax exemption on new investments in new or significantly improved buildings. The business must create at least two new full-time jobs. The rate and term of the exemption is negotiated by the Coshocton Port Authority along with the impacted local governmental jurisdiction, which would include the township, village or the city, and Coshocton County as well as the public school districts(s). City of Coshocton Annexations
Job Creation Tax Credit (JCTC)
Ohio's JCTC allows companies creating new jobs in Ohio to apply for a credit or refund on their state income tax for s-corporations or commercial activity tax for c-corporations. The credit is measured as a percentage of state income tax revenue withheld by the business for employees hired to fill new jobs. If the annual value of the credit exceeds a company’s tax liability, the difference is refunded to the company. A company must create at least 25 new, full-time jobs for Ohio residents in three years to be eligible. The business must apply to the Ohio Department of Development for the credit before committing to the project. The Tax Credit Authority has been approving such applications within the general range of 25% to 50% for a term of five to seven years. A company must meet 11 eligibility requirements to qualify for the credit.
Research and Development Investment Tax Credit
The Research and Development Investment Tax Credit is a non-refundable Ohio commercial activity tax credit for all investment in qualified research expenses incurred in Ohio. Qualified research expenses are based on Section 41 definitions in the United States Internal Revenue Code and include expenses for both in-house and contract research expenses. The amount of the credit is based on 7 percent of the amount of all qualified investment in a specific year. The credit can be carried forward for up to seven years.