Up now in the Senate: B&O tax credit for some businesses that add jobs

The Senate just passed a bill to extend a Business and Occupation tax credit of $4,000 for each new job created that pays more than $40,000 (or a $2,000 credit for jobs that pay less than $40,000).

Sen. Derek Kilmer said the economy is starting to recover and businesses want to add employees, but they need the extra incentive.

The bill passed last week unanimously in the Senate, but didn’t make it out of the House. By re-passing it, the Senate is sending the bill back to the House.

The bill passed 44 to 0.

Tags: B&O tax