What is
Incentive Compliance?
Your company has already taken care of
THE FOLLOWING STAGES OF THE PROCESS:
New Project Application | Qualification & Negotiation | Pre-Approval
Identifying Eligible Costs | Local Jurisdiction Participation
and your company has been approved for an incentive amount,
but has not yet redeemed those incentives.
THIS IS WHERE ICS CAN HELP!
The following is the process followed by the
Incentive Compliance Specialist
Meet Your Incentive Compliance Specialist
You will be assigned an Incentive Compliance Specialist who will be your go-to person each month. Your Specialist will learn everything about your Project and keep you updated on your progress.
Initial Information Request
You will only need to submit this comprehensive business information one time for account set up. Your Specialist will use this information to determine and advise you on the best time to activate and start redeeming in order to maximize your incentives.
Payroll Report Template
We will work with your IT Department or Payroll Provider by giving them a template for the employee information you will need to submit to us each month. We will set up a trouble-free way to share the information electronically.
Calculations
Our software can handle all the confusing, heavy lifting by accurately calculating heads terminated, heads replaced, employee residency, 3-4% of adjusted gross income on net new heads, then ultimately calculating your economic incentives.
Economic Incentives Added to 941 form
Your tax preparation provider will need to add your incentives to the 941 form provided to the state. We will ensure you have the accurate information needed to do this.
Economic Incentive Reports Provided
Reports will be sent to the contact person of your choice, monthly and upon request.
LOG OF CREDIT
A Log of Credits will be set up for your account that tracks the fulfillment of all project incentives redeemed. You will see all credits by month, quarter, and year through the duration of the project.
Could Your company use some help
ensuring You Are Compliant with All Stages of
The Economic Incentive Process?
CLIENT TESTIMONIAL: Ron Charles
"As former CFO of Emerson Power Transmission Solutions, I worked with Cheryl Moore as Manager of Financial Accounting and Reporting. During that time Cheryl handled all aspects of our Economic Incentives for Kentucky and Indiana. Later, when she transitioned to Managing Partner at ICS, she continued to manage our Kentucky incentive program and collected the full amount available for term of the contract. I highly recommend ICS as the premier service for managing Economic Incentives.”
What ICS Has to Offer...
Experience
Our staff has more than 20 years of direct experience with the Kentucky Economic Incentive Process.
Expertise
We understand all aspects of the Economic Incentive Process and can successfully navigate its many elements to provide a complete redemption of all credits to which your business is entitled.
Client Focus
Every client engagement we undertake is customized to meet the needs of that particular business and that particular incentive project.