Regular Local Incentives for Business OUTSIDE of the Pandemic Issues-
AVAILABLE NOW - Business Incentives and Available Capital
Marysville Downtown Incentives : Incentives Without Walls* – up to 20k 0% loan for Main Street Members. Contact Marysville Chamber & Main Street for more information.
Marshall County 0% Revolving MicroLoan Fund - County Commissioners voted 6/1/2020 to give $25,000 for up to $5,000 loans. Covid-related may have first priority during 2020. See Tab at the top of the page.
Local REDLG competitive 0% interest loan for 10k, 10-year term. (Must be approved before project start so early request is a good idea.)
Neighborhood Revitalization Program through 2022. See Form at Courthouse, clerk's office in Marysville. Current program is Property Tax Reduction at 60% for 3 years for the new build or renovation part an existing building. (Blue Rapids may also use downtown abatements through the Downtown Redevelopment Act that covers 9 years at higher rates than NRP, but can only be used on existing buildings in their commercial district in the downtown area. Other towns may apply and add this to their incentives.)
Community Development Block Grant - For-profit businesses may apply for a Commercial Downtown Business grant that allows for the improvements of the exterior of your building. That covers roof and any HVAC outside and brickwork and sliding, etc. It's a 75% government provision to the owner's 25% provision. Disclosure is that government requirements make this more of a 50/25% match, but still a great opportunity! Call Ellen on how to apply through your city and as an individual.
Small Business Administration Loans CDC/504 Real Estate and Equipment Loan which provides financing for major fixed assets such as equipment or real estate. See https://www.sba.gov/offices/headquarters/ofa/resources/4049
North Central Regional Planning Commission Revolving Loan See http://www.ncrpc.org/services/business/
Guaranteed Loan from USDA if needed to secure a local loan at higher rates. (This is a loan application).
State REDLG 0% Loan for 10-year term at significant amounts. This is a new program through Blue Valley Communications and will be getting set up with state funds. (This is an application that must be approved first before start.)
Hire a person 18-39 and get a Rural Renewal Work Opportunity Tax Credit! Hire a veteran or other target population and get a Work Opportunity Tax Credit. For more info, see ROZ and WOTC Tabs.
Just moving here? Pay no income tax. See Why KS Tab.
Downtown Redevelopment Act – With your city’s application and approval, downtown districts may have a 9-year decreasing tax abatement from state, county and city taxes. Presently Blue Rapids has applied and has been accepted by the state. This allows any renovation or repairs that are 25% or more of the appraised value to be incrementally abated for those 9 years.
Some Limited NetworkKS programs – Ask Ellen Barber about this.
North Central Kansas Rural Development Initiative, as sponsored by: North Central Kansas Community Network, Inc. (NCKCN) for Non-profit 5k matching grants. For profit may receive low-interest loans.
Want some help with start-up money for a business? Know some local or non-local business that would rather give to a business than pay money to the government in taxes? Then you need to connect with KS Angel Investors. See how the program works here. https://www.kansasangels.com/
Contact Ellen 785-207-7598 in regard to County Incentives.
Launch a Business! Here's some helpful info.
Are you selling retail? Don't pay taxes twice!
Be sure to buy wholesale (no taxes, and generally much cheaper), and then sell retail and protect your profits. Get a wholesale license.* ( A Wholesale Certificate is also called a Kansas Tax Exemption, Kansas Resale Certificate, or a Kansas Sale and Use Tax.) Need to know about licensing or permits for a Business? According to there are 3 basic steps.
Step 1. Register your business. If this is a new business venture and you're looking to buy wholesale products and sell them in smaller quantities, you'll have to register your business before you can obtain a wholesale license. Contact the IRS to apply for an Employer Identification Number (EIN) (which is also called a Federal Tax Identification Number). Applying for an EIN is free of charge. It will take four to five weeks to receive your EIN, after which you will be able to conduct business and hire employees [source: IRS].
Step 2. Obtain a sales-tax license. Once your business is registered, you will need to obtain a sales-tax license in order to charge sales tax on the items you sell. The terms of the license and the percent you will charge will differ depending on where you live. Contact your state's tax office to apply for a sales-tax license. Applications and fees vary depending on the state [source: Seller Permit].
Step 3. Obtain a wholesale license. Contact your state's tax or revenue office to apply for and obtain a wholesale license. Applications and fees will vary depending on where you live. Remember that once your business is licensed as a wholesaler, you will be exempt from paying sales tax on the products that you are buying wholesale with the intention to resell. It's best to consult with your lawyer or accountant to find out what exemptions you're eligible to receive with a wholesale license [source: Business Name USA].
So here's how I researched to do step #3. Go to this site below. There you will be told to sign into the KS Dept of Revenue Customer Service. (At the bottom of this landing page, you will also see the comments below.)
Businesses and Tax Exemptions:
Some purchases made by businesses, such as the purchase of goods or merchandise intended for resale, are exempt from sales tax. A complete listing of exemptions and the exemption forms are located in publication KS-1520.
Access "Kansas Exemption Certificates" - Publication KS-1520.
Should you have any questions or require assistance, please feel free to contact us at 785-296-3081 or by email: firstname.lastname@example.org
Check this site out for specific licenses/permits...but you may still need one through the IRS for selling common items wholesale.