RD727 - Annual Report on the Major Business Facility Job Tax Credit – November 1, 2025
Executive Summary: During the 2019 Session, the General Assembly enacted House Bill 2003 (Chapter 699 of the Acts of Assembly), which required the Department of Taxation ("the Department") to publish an annual report regarding the Major Business Facility Job Tax Credit. This report must include the location of sites used for major business facilities for which a credit was claimed; the North American Industry Classification System ("NAICS") codes used for the major business facilities for which a credit was claimed; the number of qualified full-time employees for whom a credit was claimed; and the total cost to the Commonwealth's General Fund of the credits claimed. The report is to be published for taxable years beginning on or after January 1, 2019, and must include information for the 12-month period ending on the preceding December 31. The Department is publishing this report to provide data pertaining to Taxable Year 2023 Major Business Facility Job Tax Credits. |