Local Economic Revitalization Tax Assistance Program (LERTA)
Every building constructed in Mericle’s CenterPoint Commerce & Trade Park receives a 10-year, 100% real estate tax abatement on improvements via the LERTA program. This abatement program was approved by Luzerne County, the Pittston Area School District, and Jenkins and Pittston Townships. The annual real estate taxes you will save when you move into a LERTA-approved building in CenterPoint may vary depending upon the cost of construction required to meet your exact specifications.
Please contact Mericle’s Bob Besecker, Jim Hilsher or Bill Jones for help selecting a property in CenterPoint and to receive a detailed LERTA savings estimate.
Job Creation Tax Credit Program
Quick Summary: $1,000 per-job tax credit program. The Pennsylvania Department of Community and Economic Development (DCED) sets the amount awarded for each project. The company must pay at least $10.88 per hour. The company must claim credits within five years and agree to stay in PA at least five years.
The Job Creation Tax Credit Program is available to eligible businesses who, within three years from a negotiated start date, create 25 or more jobs or increase employment by 20%. Every new full-time job, up to a set maximum which meets certain minimum wage standards, will result in a $1,000 tax credit that the business can use to pay a number of state business taxes.
The business may claim these credits only after the jobs are created. A minimum of 25% of all tax credits available to be awarded each fiscal year will be allocated to businesses that employ 100 or fewer employees.
In order to be eligible to receive Job Creation Tax Credits, a business must demonstrate leadership in the application, development, or deployment of leading technologies in business operations, and meet either of these requirements:
- Conceives and develops new production or product technology.
- Improves its productivity by incorporating innovative processes.
To be counted as new full-time employees under the JCTC Program, each new employee must earn an hourly wage rate of at least 150% of the federal minimum wage ($10.88/hour), excluding benefits, at the time the certificate is issued.
The business must agree to maintain its operation in the commonwealth for a period of five years from the start date.
The start date will be the first day of the calendar year quarter in which an application is submitted unless the applicant requests and the DCED agrees to a later start date.
A business may claim a job creation tax credit of $1,000 for each new job created up to a specified amount, as approved by DCED. The credit must be claimed within five years of receiving the tax credit certificate, but in no case can it be longer than six years from the start date. Credits not claimed within this period will be forfeited.
A business may apply the tax credit to 100% of the business’s state corporate net income tax, capital stock/franchise tax or the capital stock/franchise tax of a shareholder of the business if the business is a Pennsylvania S corporation, gross premiums tax, gross receipts tax, bank and trust business shares tax, mutual thrift institution tax, title insurance business shares tax, personal income tax or the personal income tax of shareholders of a Pennsylvania S corporation, or any combination thereof. Cash refunds will not be issued for unused credits.