City Of Inman Incentive Program- The City Council recently passed new incentive packages that provides tax abatements under three different tiers based on capital improvement, new construction costs, jobs creation, and varying levels of assistance with water and sewer utilities and road access.
- Tier One Tax Abatement:
- Capital improvement/new construction costs between $100,000 and $300,000
- Or, addition of 5-10 full time employees in one year or less
- Maximum 30% city abatement in the first year
- Tier Two Tax Abatement:
- Capital improvement/new construction costs between $300,001 and $500,000
- Or, addition of 11-20 full time employees in one year or less
- Maximum 40% city abatement in the first year
- Tier Three Tax Abatement:
- Capital improvement/new construction costs between $500,001 or more
- Or, addition of 21 or more full time employees in one year or less
- Maximum 50% city abatement in the first year
The City of Inman will also assist with the cost of water and sewer utility hook-ups as well as roadway costs on qualifying projects.
Property Tax Abatement – On a case by case basis, cities and counties have the option to exempt real property from ad valorem taxation. This is a decision that is made by the city and county governments. Property tax abatement assistance is available through the State of Kansas – Click Here
Machinery and Equipment Property Tax Exemption – Select commercial and industrial machinery and equipment that is purchased, leased or transferred into the state may qualify for an exemption from state and local property tax. Click Here for Additional Information
Sales Tax Exemption – There are a number of different exemptions to the states sales tax (currently set at 6.5%). These include:
· Labor related to new construction
· Remodeling and refurnishing costs for qualified projects.
· New machinery and equipment for manufacturing and distribution
· Property related to an Industrial Revenue Bond (IRB)
· Other exemptions as determined by the State of Kansas
For more information on the Sales Tax Exemption – Click Here
Promoting Employment Across Kansas (PEAK) – Under this program, qualified companies may retain up to 95% of their payroll withholding tax for five to seven years. The program is available to both new operations and businesses relocating to Kansas. Click here for Additional Information on the PEAK Program
High Performance Incentive Program (HPIP) – HPIP provides an investment tax credit to companies that pay above average wages and has a strong commitment to training their workers. Click Here for Additional Information on the HPIP