May 10?- EZ-2 Enterprise Zone Investment Deduction must be filed with Knox County Auditor's office at the courthouse between March 1 and May 10 each year. If you have made a real property investment or remodeled, you may be eligible for a 10 year, 100% abatement on the increase in property value.
June 1 - EZB-R Enterprise Zone Business Registration Form must be filed with the State Enterprise Zone Board by all UEA zone businesses that access at least one tax credit or exemption during the tax year. This form must be postmarked no later than June 1. A copy must also be sent to the Vincennes UEA office.
a. Employee State Tax Deduction?- Qualified employees who live and work in the zone are entitled to a tax deduction.?- of his/her adjusted gross income, or $7,500, whichever is less.
b. Employer State Tax Exemption?- Employers that have qualified employees who live and work in the zone are entitled to a $1,500 State tax exemption per employee per tax year.
d. Investment Credit?- individuals making new investments in the zone may receive up to a 30% tax credit against their personal State tax liability, beginning in the year of the purchase.