FEATURE
Business is easier, when your checking is easier.
Leaving Dollars on the Table?
You work hard for your business. So your checking account should be easy. With Republic Bank’s MoneyManager™ Free Business Checking, all the services your business counts on are absolutely free: No Monthly Fee
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FLORENCE 8513 US Highway 42 Florence, KY 41042 (859) 525-9400
NORWOOD 4030 Smith Road, Suite 100 Cincinnati, OH 45209 (513) 793-7666
INDEPENDENCE 2051 Centennial Blvd Independence, KY 41051 (859) 363-3777
COVINGTON 535 Madison Avenue Covington, KY 41011 (859) 581-2700
Kentucky’s Highly Under-Utilized Tax Credit for Small Businesses ARE YOU ONE OF THE MANY KENTUCKY SMALL BUSINESSES that are leaving millions of dollars on the table? Since the inception of the Kentucky Small Business Tax Credit (KSBTC), the state has allotted $6 million to the KSBTC, however, it has only awarded $2.2 million to Kentucky small businesses. According to the Kentucky Cabinet for Economic Development, 96.5% of the businesses in the state of Kentucky are small businesses, employing nearly 700,000 Kentuckians. What is this credit that thousands of businesses are not taking advantage of?
$100 minimum to open Message and data rates may apply from your wireless carrier. Usage and qualification requirements apply. 2$10 inactivity fee assessed each month after 12 months of inactive debit card. 3Items in excess are $.20 each. 4ATM fees assessed are refunded to the account on the next business day.
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MASTER OF SCIENCE IN EXECUTIVE LEADERSHIP AND ORGANIZATIONAL CHANGE The Masters in Executive Leadership and Organizational Change program at Northern Kentucky University allows individuals to develop the leadership competencies that organizations are seeking. The ELOC program, unique to the region, teaches students to facilitate organizational change by using leadership competencies learned through action learning, competency development and team-based environments.
Stacey Kampsen and Ryan Redleski are tax specialists with VonLehman CPA & Advisory Firm. learn more about VonLehman at vlcpa.com.
— The driving force behind the KSBTC is job creation. When a business creates or fills one or more eligible positions and invests $5,000 or more in qualifying equipment or technology, the program provides a credit between $3,500 to $25,000 per calendar year.
Learn more about NKU’s ELOC Program at eloc.nku.edu.
This credit is available to for-profit businesses having 50 or less full-time Kentucky employees. It is important to note that an employee who works in Kentucky, but resides outside of the state, is not included in the small business employment calculation. If a business has 60 employees, but 20 of them reside outside the state of Kentucky, the business is still eligible for the credit. OTHER PROGRAM REQUIREMENTS INCLUDE THE FOLLOWING: 1. At least one position has been created and filled for 12 consecutive months; the employee must work a minimum of 35 hours or more per week and have an hourly wage of at least $10.88. 2. The investment of $5,000 in qualifying equipment or technology; defined as a life greater than one year (i.e. computers, equipment, furniture, fixtures and software). NKY
THE KENTUCKY CABINET WILL WORK WITH BUSINESSES TO ASSIST CREDIT APPROVAL . IF YOU HAVE QUESTIONS AS TO WHETHER OR NOT YOUR BUSINESS QUALIFIES FOR THE CREDIT, PLEASE COTACT STACEY KAMPSEN OR RYAN REDLESKI AT 859.331.3300.
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