Manufacturing and Processing Profits Tax Credit
Tax Credit
Description:
Large corporations engaged in manufacturing and processing may claim up to 9.5% on profits earned in Yukon.
Comments on Funding:
1. Funding takes the form of a tax credit.
2. Large corporations can claim up to 9.5% on manufacturing and processing profits earned in the Yukon.
3. Small corporations can claim up to 0.5% on manufacturing and processing profits earned in the Yukon.
From January 1, 2021, the small business tax rate was reduced to 0%. As a result, the manufacturing and processing profits tax credit no longer applies to small corporations.
Rolling deadline
Eligibility:
The applicant must be a corporation manufacturing and processing in the Yukon.
Application Steps:
For application details, applicants must call at Phone: 1-866-841-1876 (note: they must be within the Yukon’s 867 area code).
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
