Incentive Compliance Services (ICS)
helps new and expanding businesses receive all eligible state and local Economic Tax Incentives.
Fully realizing incentives from
State Job Creation Programs
takes place over years and requires a lot of:
painstaking negotiations
precise record keeping
timely paperwork submittal
accurate calculations
The process also requires a systemized approach to:
the calendar and all deadlines
project requirements and regulations
individual employees
payroll
REad More about how ICS can help
It only makes sense to hire a specialist
in compliance and collection
of Economic Tax Incentives.
ICS specializes in the two most critical components of the entire process...
Calculations
Reporting
Whether you are a large corporation or a small business,
ICS can help you receive all eligible state and local incentives
by guiding you through the final stages of the process.
The Incentive Compliance Process
can be lengthy and confusing,
which is why roughly 50% of economic incentives
are left uncollected and unused.
Your company may not be receiving
the full value of the state and local incentives you have been granted,
or your process may have stalled at the Final Approval Stage,
so the incentives are never Activated or Redeemed.
Where are you in the process?
Your Company has already taken care of
the Following Stages of the process:
New Project Application | Qualification & Negotiation | Pre-Approval
Identifying Eligible Costs | Local Jurisdiction Participation
and your company has been approved for an incentive amount,
but has not yet redeemed those incentives.
We handle the following stages of the process:
Final Approval
Your company has reached the minimum requirements and is now eligible to activate the full terms of your state's Tax Incentive Agreement.
Activate incentives
Your company fills out and submits the additional necessary paperwork to Activate the recovery period, which should happen no later than two years from the date of Final Approval.
Remember... ICS can help determine the most profitable time to Activate and can handle the Activation process!
Redeem incentives
Either monthly or quarterly, your company reviews your payroll records, calculates the amount of incentives earned, and Redeems the incentives in the form of Tax Credits.
ICS can save your company time and money by utilizing an automated compliance process as well as compliance software to maximize your tax credits and ensure you are always in compliance with the stipulations of your project's Tax Incentive Agreement.
Monthly, Quarterly, & Annual Reporting
Monthly, quarterly, or annually, your company submits the additional appropriate paperwork to demonstrate your compliance with your state's Tax Incentive Agreement.
Because of our knowledge and years of experience, ICS can save you money and time by taking the burden of reporting off your tax and accounting departments.
Just like the monthly and quarterly reports, our software is designed to ensure your company submits a fully compliant Annual Report...and we ensure audit readiness.
Find out how ICS can help you complete the
Incentive Compliance Process
Final Approval
Activate Incentives
Redeem Incentives
Annual Reporting
Final Approval
Activate Incentives
Redeem Incentives
Annual Reporting
ICS Offers 3 Levels of service:
1. Economic Incentive Approval
ICS completes all steps of the Final Approval stage, up to and including Activation. Your company handles the Redemption and the Annual Report.
2. Economic Incentive Redemption
After you have achieved Final Approval and Activation, ICS will monitor compliance requirements, calculate and redeem eligible incentives, and submit tax credit paperwork, including the Annual Report.
3. Economic Incentive Solution
Turnkey service beginning with the Final Approval stage, and moving through Activation, Redemption, and Annual Reporting.
Here is What ICS Has to Offer...
Our staff has more than 20 years of direct experience with the Kentucky Economic Incentive Process.
We understand all aspects of the Economic Incentive Process and can successfully navigate all of its elements to provide a complete redemption of all credits to which your business is entitled.
Every client engagement we undertake is customized to meet the needs of that particular business and that particular incentive project.
LET US KNOW HOW WE CAN HELP!
859.905.0620
Incentive Compliance Services
