Small Business Finance News

Kentucky Small Businesses Can Take Advantage Of Tax Credit

Written by Jenna Weiner
Published: 12/29/2010

Kentucky Small Business Investment Credit program seeks to help area entrepreneurs

In the latest news for small business owners in Kentucky, entrepreneurs will be able to get a tax credit, thanks to a new program by a nonprofit organization.

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The Kentucky Small Business Investment Credit program seeks to give those interested in starting their own businesses or getting added funding tax credits ranging from $3,500 to $25,000. In order to qualify, businesses will need to prove that the funding will create at least one job and also invest a minimum of $5,000 in new technology or equipment.

The group behind the initiative program, the Kentucky Small Business Development Center, said that the program would be key in trying to help the local economy recover.

"Helping Kentucky small businesses grow and add jobs is a giant step in supporting the future of our commonwealth," said Becky Naugle, state director of the Kentucky Small Business Development Center.

Kentucky made other news for small business when Republican Hal Rogers announced that he would lead a new committee in the U.S. House of Representatives. Rogers will lead the Appropriations committee beginning in January 2011. 

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