Taxes and Incentives in Lawrence County

State Corporate Income Tax / Franchise Tax
3.5%

State Personal Income Tax
3.5%

State Sales Tax
7%

Job Training
Employers can request customized training for a new employee, where the employee is trained to use the specific machines or materials at the plant. Employers are only required to pay for 50% of this specialized training; Workforce Investment Network (WIN) pays the rest. On-the-job training for a new employee is available for up to 6 months, and WIN pays one-half of the employee's salary during training. New and expanding plants can rely on WIN for recruiting and training of employees. Employers benefit from all these services by gaining workers trained especially for their plants, while paying only a portion of the training expenses.

Financial Incentives
Lawrence County is a Tier 3 (less developed county). As a result, qualified companies would pay no sales tax on purchases of raw materials, processing chemicals, or packaging materials. The qualified companies would also pay no sales tax on direct purchases of construction materials, machinery, and equipment. Qualified companies would also receive state income tax credits for five years of $2,000 for each new job created. In addition, the company would receive five-year state income tax credits of $500 each for each new R&D job created.

Other Tax Incentives