Single Business Tax Credit (SBT)

SBT can only be accessed as an incentive if the developer is currently paying single business tax liability.  The credit is 10% of the total investment into the project up to $1,000,000 against your SBT liability and must be used within the five year period following the completion of the project. 

These credits can be used to cover demolition, construction, restoration, alteration, and improvement of the buildings or site of an eligible property. 

If a developer decided to apply for SBT credits a brownfield plan needs to be approved at the Local, WCBRA, County and State Level.  If utilizing both TIF and SBT, it is not necessary to create a brownfield plan for each incentive, but rather a combined brownfield plan is acceptable. The SBT is only given to a project once it is completed, and the credits can only be applied for 5 years after the SBT application is approved.  Therefore, it is important to submit the application right before construction is to begin to ensure that the developer is able to get the credits for the maximum amount of years.