Instructions for Business Certification Application - Employment Tax Increment Financing (Etif) Program - Maine

This document was released by Maine Department of Economic & Community Development and contains the most recent official instructions for Business Certification Application - Employment Tax Increment Financing (Etif) Program .

FAQ

Q: What is the Employment Tax Increment Financing (ETIF) program?
A: The ETIF program in Maine provides financial incentives to businesses that create new jobs.

Q: What are the eligibility requirements for the ETIF program?
A: To be eligible for the ETIF program, businesses must create a minimum number of new jobs and meet certain wage and benefit criteria.

Q: How can businesses apply for ETIF certification?
A: Businesses can apply for ETIF certification by submitting an application with the required documentation to the Maine Department of Economic and Community Development (DECD).

Q: What documentation is required for the ETIF certification application?
A: The ETIF certification application requires documentation such as proof of job creation, wage and benefit information, and a detailed business plan.

Q: What are the benefits of ETIF certification?
A: ETIF-certified businesses are eligible for tax incentives, including a percentage of the employees' income taxes withheld, to help offset their job creation costs.

Q: Are there any fees associated with the ETIF certification application?
A: Yes, there is an application fee for businesses applying for ETIF certification.

Q: How long does the ETIF certification process take?
A: The ETIF certification process typically takes around 60 days from the submission of a complete application.

Q: Can businesses reapply for ETIF certification if their initial application is denied?
A: Yes, businesses can reapply if their initial application is denied, but they must address any deficiencies identified.

Q: Is ETIF certification available only to certain types of businesses?
A: No, ETIF certification is available to all businesses that meet the program's requirements for job creation and wages.

Q: Is the ETIF program available in all areas of Maine?
A: The ETIF program is available statewide in Maine.