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Make Kansas Your Home Rural Opportunity Zones. Rural Opportunity Zone Program –Facilitates the...

Date post:17-Jan-2018
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Income Tax Abatements –Establish residency in a ROZ on or after July after having lived outside the state of Kansas for 5 or more years –Earned less than $10,000 in Kansas source income prior to establishing residency –Maintain residence for the entire taxable year the tax credit is claimed
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Make Kansas Your Home Rural Opportunity Zones Rural Opportunity Zone Program Facilitates the population growth of rural Kansas communities in 73 designated counties through the use of tax relief and student loan reimbursement. Qualified individuals will receive Kansas state income tax abatements and student loan reimbursements. Income Tax Abatements Establish residency in a ROZ on or after July after having lived outside the state of Kansas for 5 or more years Earned less than $10,000 in Kansas source income prior to establishing residency Maintain residence for the entire taxable year the tax credit is claimed Student Loan Reimbursement Establish residency in ROZ county after the County opts to participate in the Student Loan Assistance of the ROZ program Must have obtained an associates, bachelors, or post-graduate degree Individual must have a current outstanding student loan balance Student Loan Reimbursement Student loan payments will be in equal shares over a maximum term of 5 years Annual payments will be equal to 20% of the outstanding loan balance up to a maximum of $15,000 ROZ counties will provide 50% of the payment with the state providing a 50% match Employer-Sponsorship Employers in Rural Opportunity Zone (ROZ) Counties will be able to sponsor specific ROZ applicants ROZ can be utilized as a recruitment tool by employers Requirement of Employer Sponsorship Employers must agree to pay for 5 years of matching payments. County must notify commerce of employer sponsorship and receive approval. Employer/ROZ candidate must complete appropriate application form. Required ROZ Documents: Residency Lease of living quarters or ownership of a home in the ROZ county & One of the following: Acceptance or offer of employment in the county Proof of current employment in the county Registration of vehicle in the county Proof of voter registration in the county Kansas Drivers License showing residency Carol Meyer (620)

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Make Kansas Your Home Rural Opportunity Zones
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