The Fort Harrison Enterprise Zone was established by the State of Indiana and City of Lawrence in 1997. Because of our status as a former military base, our EZ was given the maximum life span of 20 years until 2017. The following is a list of the tax and business incentives available for business. Applications can be made on the Department of Revenue through the State of Indiana.
Employee Wage Deduction: Residents of the zone can take a tax deduction from their taxable salary and wages and lower their individual state tax if they are employed by a qualified zone business.
Employer Expense Credit: If a zone business hires a zone resident, that business can take a credit on their state tax liability.
Gross Income Tax Exemption: Qualified zone businesses may exempt increases in gross income from state tax.
Investment Cost Credit: Individuals making new investments in enterprise zone companies may receive up to a 30% tax credit against their personal state tax liability.
Loan Interest Credit: Any Indiana taxpayer, whether individual or business, may receive a state tax credit of 5% of the interest income earned on loans made to enterprise zone businesses or on loans for improvements to real property, including residential property.