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Business Taxes
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When is the SBT credit claimed?
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Answer:
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The SBT credit must be claimed in the tax year in which the Certificate of Completion is issued. For credits for a project approved by MEGA with total credits greater than $10 million, the credits must be claimed at the rate of 10% per year for 10 years, beginning with the first year specified by MEGA on the Certificate of Completion. A credit assigned based on a multiphase project will be claimed in the year in which the credit is assigned.
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