HERMISTON -- E-commerce businesses can get a break on their state income taxes if they expand or open in Hermiston.
The Oregon Business Development Department recently allowed Hermiston to be the first city in Eastern Oregon to offer an "E-Commerce Zone" income tax incentive.
The tax credit is equal to 25 percent of the investment costs an e-commerce company makes in capital assets, with an annual maximum credit amount of $2 million per year.
Unused tax credit amounts can be carried forward for five years. This means a company could receive up to$10 million in income tax credits during five years for an investment of $40 million or more in Hermiston.
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"This is a very broad and powerful incentive," said Mark Morgan, Hermiston assistant city manager.
For more information, go to www.hermiston.or.us/business/incentives.
Morgan also will discuss the incentive at the Hermiston Chamber of Commerce's Business to Business Luncheon on Sept. 23.