KOZ
The Keystone Opportunity Zone (KOZ) program provides growing and expanding businesses with tax benefits at the local, county and state level.
Huntingdon County KOZs
- Broad Top Business Area, Broad Top City
- Riverview Business Center, Mount Union
- Fairgrounds Road, Huntingdon
KOZ Benefits
Abatement of the following taxes through December 31, 2010:
- Local Real Property Tax
- Corporate Net Income Tax
- Capital Stock and Foreign Franchise Tax
- Earned Income/Net Profits Tax
- Business Gross Receipts, Business Occupancy, Business Privilege and Mercantile Tax
Businesses looking to relocate from out of state into a KOZ simply need to own or lease property within the zone during the tax year to claim an exemption from state and local taxes.
Pennsylvania businesses that move into a KOZ are eligible to claim the above tax exemptions, provided they either:
- Increase full-time employment by at least 20 percent in their first full year in the zone, or
- Make a capital investment equal to 10 percent of their previous year’s gross revenues.
Contact
For more information about the KOZs in Huntingdon County, please contact an HCBI team member.