Contractors Gross Receipts Tax Credit
Eligibility: Contractors, and some sub-contractors, performing public construction work under a federal, state or local government contract
Qualifying Expenditures: An additional license fee equal to 1% of the gross receipts for government contracts is paid.
Benefit: The credit can be used to offset the tax liability of individual, corporate license or corporate income taxes.
Unused Contractors Gross Receipts Tax Credit can be carried forward for up to five subsequent tax years.