Gary Deal, Chair
Tim Wells, Vice Chair
Bob Dinkins
Bobby George
Bud Riviere
Dewey Crutchfield
Fran Haithcoat
Frances Williams
Jeffrey Johnson
Lenora Campbell
Nolan Baker
Sheena Hougland
The
Holmes County Development Commission spearheads the effort
to pursue that Holmes County promotes the growth
of an Enterprise Zone which ensures that local businesses
and residents are zone certified. The 20 square mile zone
is divided into three non-contiguous areas covering Bonifay,
Ponce de Leon and Esto.
The
Development Commission acts as the official representative
of Enterprise Zone activity to ensure that businesses
and residents located in the zone will be able to receive
numerous incentives.
These include the
following located within the Enterprise Zone:
Jobs Creation Tax Credit - Credit available
to Corporations Only against Corporate Income Tax for wages
paid to New Zone-Resident Employees (in new fulltime job).
Credit of 30% of wages Paid to New Zone Resident Employees.
If 20% or more of permanent fulltime Employees are Zone Residents,
the credit is 45%. Credit available for 24 consecutive months
with 5-year carry-forward.
Business Machinery and Equipment Sales
Tax Refunds on
sales tax paid on the purchase of new and used qualified
depreciable Business Property with a minimum sales price
of $5,000
per unit. Credit of lesser of 97% of Sales Tax Paid or $10,000
if 20% or more of Employees are Zone Residents.
Building Materials Sales Tax Refund is
available to Businesses or Individuals for Sales Tax Paid
on the purchase of Building Materials used on New Construction
or to Rehabilitate real property located in the EZ. Credit
of 97% of FL Sales & Use up to a maximum of $5,000 OR
credit of of 97% of FL Sales & Use Tax up to a maximum
of $10,000 if 20% or more of Employees are Zone Residents.
Property Tax Credit for Jobs Creation -
Eligible new, expanded or rebuilt Corporations Only located
in an EZ allow a credit against FL Corporate Income Tax equal
to 96% of Ad Valorem Taxes Paid. Maximum of $25,000 annually
OR Maximum of $50,000 annually if 20% or more of Employees
are Zone Residents.
Electrical Energy Tax Credit of 50% of
Municipal Tax Exemption is available to qualified businesses
(new, renovated, remodeled, rehabilitated or rebuilt) located
in an EZ. Exemption of 50% of Municipal Tax Paid for Electricity
OR Exemption of 100% of Municipal Tax Paid for Electricity,
if 20% or more of employees are Zone Residents. Available
for 5 years.
Sales Tax Refund for Jobs Creation - Allows
businesses a monthly credit against Sales Tax wages paid
to New, Fulltime, Zone Resident Employees. Credit of 30%
of Wages Paid to New Zone Resident Employees OR Credit of
45% of Wages Paid to New Employees, if 20% or more of Employees
are Zone Residents. Available for 24 months, with no carry-forward.
The Holmes County Development
Commission, working to build a better future for Holmes County
business, residents and visitors.
