Manufacturing and Processing Profits Tax Reduction
No fixed amount
Tax Credit
Description:
The Manufacturing and Processing (M&P) Profits Tax Reduction applies to firms in the manufacturing and processing industry. Eligible corporations can reduce their Saskatchewan income tax rate on Canadian manufacturing and processing profits by as much two percentage points. Saskatchewan-based firms with a high allocation of income to Saskatchewan will receive a larger tax reduction than firms with a low allocation of income.
Comments on Funding:
Rolling deadline
Eligibility:
Applicants must be:
1. manufacturing and processing corporation, that meet these criteria:
a) have a permanent establishment in Saskatchewan;
b) have earned taxable income in Saskatchewan;
3) have Canadian manufacturing and processing profits in Saskatchewan.
Application Steps:
Applicants must:
1. Contact Phone: 1-800-667-6102 and/or Email: SaskTaxInfo@gov.sk.ca for application details.
Documentation Needed:
Applicants must submit a completed Schedule 404 in the annual T2 Corporate Income Tax Return.
Other Things to Note:
About the author
Maurice
