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STATE OF ILLINOIS CREDITS AND INCENTIVES

While state and local tax incentives present many opportunities, identifying the available incentives and determining which ones your organization qualifies for can be a daunting task. Many companies fail to pursue incentives available to them due to time constraints and other competing priorities. With ORBA by your side, the credits and incentives that are available to you can become an important part of your business strategy.

Illinois offers numerous incentives to encourage manufacturers to expand or relocate to the state. The Illinois incentive programs are subject to varying qualifying requirements, application processes and procedures; most are subject to some ongoing documentation and compliance requirements.

Other states are continuously creating or expanding their incentive programs to encourage businesses to create or retain jobs in their states as well. Incentive programs also vary tremendously from state to state. To benefit from these opportunities, it is imperative to understand the implications of both statutory credits and negotiated credits and incentives in the early planning stages of a project.

ORBA professionals are familiar with the many credit and incentive programs available to manufacturers. We help  identify which programs offer significant, bottom-line savings to your company based on your unique status and goals. For example, obtaining a jobs tax credit that reduces tax liability in a state may be great on the surface, but if your company will never use the credit due to lack of taxable income, such a credit may be wasted.

Staying on top of credit and incentive opportunities at the state and local level and realizing actual benefits can be challenging. By working closely with your company to identify potential expansion or relocation plans, ORBA professionals apply their experience and state-specific knowledge to maximize the appropriate programs.