The Job Creation Tax Credit is a refundable and performance-based tax credit calculated as a percent of created payroll and applied toward the company's commercial activity tax liability. Should the amount of the credit exceed the company's commercial activity tax liability for any given year, the difference is refunded. Companies creating at least 10 jobs (within three years) with a minimum annual payroll of $660,000 and that pay at least 150 percent of the federal minimum wage are eligible for the credit; however, they must apply for the credit before committing to a project. The Ohio Tax Credit Authority must approve applicants before hiring begins.
Minority small business grants are financial incentives given to business owners who are considered minorities based on race, gender, personal status, or location. These grants are not loans – you don’t have to repay the funds once they’ve been awarded to you. Cleveland, Ohio Small Business Grants and Resources. Are you looking for a Small Business Grant? Starting a business takes talent, innovation, and a lot of dedication. At the same time, it also takes money to start a company and keep it running.