Web-based training to help Louisiana businesses claim tax incentives

A statewide training program launched Thursday is designed to help Louisiana businesses take advantage of two federal programs – the Gulf Opportunity (GO) Zone and Renewal Communities tax credits.

In all, $10 billion in cash incentives is available across the Gulf Coast states.

The incentives are awarded to businesses that hire local workers, replace or upgrade equipment and repair or build new structures. It will continue through 2008.

“This is the largest federal incentive program created for the private sector,” said Michael J. Olivier, outgoing secretary of Louisiana’s economic department. “We want to stake Louisiana’s claim of our share of these financial benefits. Efforts to maximize use of these powerful incentives can generate added revenues for local businesses and provide millions of dollars across our state.”

The training Web casts are airing at www.YourTaxClaim.com. The sessions include real examples provided by financial professionals who have worked with the program.

The site also includes links detailing incentives in the GO Zone and Renewal Communities and tips on how to calculate wage credit benefits.

The LED will step up marketing efforts in January to reach small and large businesses that may be eligible for these tax credits, Olivier said.

For more information about the training and promotional program, contact Don Mains at (225) 454.8474, or visit www.YourTaxClaim.com.