The “Citywide Business Credit” is a tax credit program funded by the Border City Enterprise Zone Fund and is available to Moorhead businesses to reduce a portion of their Minnesota worker’s compensation insurance costs. Participating businesses submit an application each year to receive a credit for a percentage of the actual cost of worker’s compensation insurance.
To qualify for the program you fit the following criteria:
- You are a Moorhead business which is not exempt from paying Minnesota income tax
- You pay Minnesota worker’s compensation insurance for employees
- You are not a facility of which the primary purpose is one of the following: provision of recreation or entertainment, private golf course, country club, massage parlor, tennis club, skating facility (including roller skating, skateboard & ice skating), racquet sports facility (including handball or racquetball court), hot tub facility, suntan facility, or racetrack.
If you think your business qualifies but have not received an application in previous years, please complete the following and you will receive an application by mail mid-July. Along with the simple application, you will be required to submit your “most recent” audited worker’s compensation audit report. If you are a new business, you will need to complete a full year in business and request an audit report from your local insurance agent. If you have been in business for longer than a year, you may still need to contact your local agent to request your most recent audit report.
To sign up, submit your business.