Employee Wage Credit

Qualified employees who live and work in the Bedford Urban Enterprise Zone are entitled to a tax credit. A portion of the income they earn deduct one-half of his/her adjusted gross income, or $7,500, whichever is less.

Enterprise Zone Investment Deduction IC 6-1.1-45:

a) A taxpayer that makes a qualified investment is entitled to a deduction from the assessed value of the taxpayer's enterprise zone property located at the enterprise zone location for which the taxpayer made the qualified investment.  The amount of the deduction is equal to the remainder of:
1) the total amount of the assessed value of the taxpayer's enterprise zone property assessed at the enterprise zone location on a particular assessment date; minus
2) the total amount of the base year assessed value for the enterprise zone location.
b) To receive the deduction allowed under subsection a) for a particular year, a taxpayer must comply with the conditions set forth in this chapter. IC 6-1.1-45
Interested taxpayers must file an EZ-2 Form with the Lawrence County Auditor between March 15th and May 10th annually.

Investment Cost Credit:

Individuals and trusts making new investments in enterprise zone companies may receive up to a 30% tax credit against their personal state tax liability, beginning in the year of the purchase. Interested zone investors should contact Indiana Economic Development Corporation, at (317) 232-8962.

Loan Interest Credit:

Any Indiana taxpayer, whether individual or business, may receive a state tax credit of 5% of the interest on loans made to enterprise zone businesses.