Benefit |
1988 - 2005 |
2006 |
2007 |
2008 |
2009 |
Total |
Qualified Applicants |
369 |
18 |
22 |
6 |
14 |
429 |
| Investment: Investment Tax Credits New Jobs Credits Total Credit Earned |
1,459,228,431 547,958,761 $ 2,007,187,192 |
87,248,048 24,124,193 $ 111,372,241 |
115,109,842 34,413,435 $ 149,523,277 |
34,339,429 19,997,258 $ 54,336,687 |
85,679,363 53,592,266 $ 139,271,629 |
1,781,605,113 680,085,913 $ 2,461,691,026 |
Tax Credits Used: Corporate Income Tax Individual Income Tax Subtotal Income Tax Sales/Use Tax Refunds Total Tax Credits Used |
491,373,338 110,437,423 $ 601,810,761 611,566,931 $ 1,213,377,692 |
29,956,611 8,449,126 $ 38,405,737 39,954,493 $ 78,360,230 |
29,654,172 12,283,727 $ 41,937,899 45,127,886 $ 87,065,785 |
22,461,325 7,092,625 $ 29,553,950 52,439,714 $ 81,993,664 |
64,242,920 9,535,285 $ 73,778,205 56,518,1371 $ 130,296,342 |
637,688,366 147,798,186 $ 785,486,552 805,607,161 $ 1,591,093,712 |
Recapture1 Repaid From Credits |
33,458,268 23,361,446 |
4,101,631 3,215,666 |
6,234,123 1,046,967 |
3,849,061 846,965 |
(780,275) 4,766,988 |
46,862,808 33,238,032 |
Tax Credits Expired |
28,489,257 |
27,343,611 |
5,978,854 |
6,836,475 |
6,062,931 |
74,711,128 |
Qualified Investment |
18,289,116,398 |
986,072,721 |
1,751,087,961 |
313,611,073 |
891,165,869 |
22,231,054,022 |
| Direct Sales/Use Tax Refunds: Refunds on Investment Refunds on Aircraft Total Direct Refunds |
552,853,979 15,758,127 $ 568,612,106 |
33,302,688 6,604,992 $ 39,907,680 |
66,159,034 4,294,242 $ 70,453,276 |
32,044,795 91,276 $ 32,136,071 |
18,004,357 420,222 $ 18,424,579 |
702,364,853 27,168,859 $ 729,533,712 |
New Jobs of Qualifying Companies |
78,430 |
2,894 |
4,479 |
1,280 |
1,490 |
88,573 |
Sales/Use Tax Refunds Pending Approval at Year End |
N/A |
$ 32,211,153 |
$ 42,600,186 |
$ 39,216,412 |
$ 23,744,227 |
N/A |
1If a company fails to maintain either the minimum employment or investment required by its agreement, one-seventh of the refunds and one-seventh of the credits used are recaptured, and one-seventh of the credit carryover at the end of the entitlement period is recaptured for each year the company is below the required levels. Through December 31, 2009, 79 projects were in recapture. $25,790,166 in repayment due has been netted from approved refund claims, and $21,072,641 plus interest has been repaid in cash. Credit carryover for companies that have reached the end of the entitlement period has been reduced by $33,238,032. |