 |
INCENTIVE DESCRIPTION
| State: | CT |
| Incentive Type: | Property Tax Incentives |
| Incentive Title: | Property Tax Abatements |
| Description: | PROPERTY TAX EXEMPTIONS: 1. 100% exemption for 5 years on newly acquired and installed machinery and equipment eligible for 5-7 year depreciation. 2. 100% exemption for inventories. 3. 30-100% exemption from the increased assessment for personal property for manufacturers and 20-50% for eligible real property improvements offered by some towns for 2-7 years. 4. 100% exemption for unbundled software, machinery and equipment that will be exempt under Sec. 12-81(72) once installed and used. 5. 100% exemption for 5 years on new commercial motor vehicles weighing over 26,000 lbs. that are used to transport freight for hire and on all new commercial vehicles weighing over 55,000 lbs. |
| Eligibility Requirements: | Varies depending on the incentive. |
| Geographic Restrictions: | Statewide |
| Granting Authority: | CT Development Authority |
| The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com |
Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives. |
|
|
 |