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Frequently Asked Questions (FAQs)

Employee Expense Credit/Employee Wage Deduction

 

Anyone who lives in the enterprise zone and works for any business, government or non-profit located in the enterprise zone may be entitled to a state income tax deduction. See below for details or consult your tax advisor or the LUEA.
 

What is it?
Qualified employees who live and work in the zone at least 50% of the time and 90% of the job is related to the zone business (any business, government or non-profit located in the zone) are entitled to a state tax deduction. Employees may deduct one half (1/2) of their income earned, up to $7,500, whichever is less. At the current tax rate this could be up to $255. Wages up to $15,000 annually receive the benefit.

Because businesses receive benefits from employing zone residents, zone residents should benefit from increased employment opportunities. Residents should also receive indirect benefits from the incentives received by individuals and businesses. Since all tax savings must be reinvested in the zone business or the zone community, residents will benefit from an enhanced quality of life.

 

How to claim it?
Attach Form IT-40 QEC from your employer to your tax return and enter amount as "Other Indiana Deduction," Line F.

 

Special eligibility note
Zone residents claiming this benefit do not pay registration fees.

 

 

 


 

 

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Lafayette Urban Enterprise Association
Greater Lafayette Commerce | P.O. Box 348 | 337 Columbia Street | Lafayette, IN 47902-0348
phone: 765.742.4044 | fax: 765.742.6276 | e-mail: info@luea.org

 

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