The RC Edge!

Turtle Mountain Band of Chippewa Indians

The Edge! 

The RC Initiative offers residents and businesses the opportunities and resources to overcome seemingly insurmountable problems. What have been vacant lots or abandoned buildings have been turning into new business complexes and affordable housing. Employment opportunities for residents have expanded and support services including childcare, education and healthcare have been strengthened, thus enabling residents of our nation's poorest communities to participate more fully in the workforce.

We Can Train Your Workforce

Located 10 miles from the Canadian border, Turtle Mountain Community College serves the Turtle Mountain Reservation and Rolette County. 

 

The college plays a key role in reservation life by supporting business development through its Center for New Growth and Development, and by training workers for employment in local industries and for careers in several professional fields.

 

Turtle Mountain Community College is one of the original six tribal colleges. During the fall 2002 semester, enrollment was 894 as the college offered 12 associate of arts degrees, 16 associate of science degrees, and 13 associate of applied science degrees.

Renewable Energy Possibility for Your Business

Wind Energy is one of the most valuable sources of clean, renewable fuel in the United States.  The Turtle Mountain Reservation is one of the best Wind Energy "hot spots" in North Dakota. At present a 108-kW turbine at Turtle Mountain in Belcourt, North Dakota provides power to a waste treatment plant on the Reservation. The Tribe is investigating development of a wind farm to exploit the large wind resources on the reservation.

Feature:  Indian Employment Credit!

The Indian employment credit provides businesses with an incentive to hire certain individuals who live on or near an Indian reservation. You can claim the credit if you pay or incur “qualified wages” to a “qualified are qualified wages you pay or incur for work performed by an employee.”

 

Credit against Federal taxes calculated on wages of up to $20,000 for each qualified employee who is an enrolled member of an Indian tribe (or spouse of an enrolled member) who lives on or near an Indian reservation.

 

In most cases, the credit is 20% of the excess of your current year qualified wages and qualified employee health insurance costs over the sum of the corresponding amounts you paid or incurred during a calendar year.  

 RC Incentives Give You the Edge!

Wage Credit: Up to $1,500 or 15 percent of an employee's salary up to $10,000 for each employee who lives and works in the renewal community.

Work Opportunity Credit: Up to $2,400 for employees hired from groups that have high unemployment rates or other special employment needs, including youth ages 18 to 24 who live in the renewal community. Other qualified groups include veterans, ex-felons, food stamp recipients, vocational rehabilitation referrals and summer youth.

Welfare to Work Credit: Up to $3,500 for the first year and $5000 for the second year for each new hire of someone on long term family assistance.

Increased Section 179 Deduction: Allows businesses to take a deduction of up to $135,000 on equipment purchases. That lets businesses deduct all or part of the equipment cost the year it is purchased instead of deducting the expense over time.

Commercial Revitalization Deduction: Allows businesses that construct or rehabilitate commercial property to deduct a portion of the costs over a shorter period of time than permitted under standard depreciation rules.

Environmental Clean up Cost Deduction: Allows businesses looking for land to deduct clean up costs of hazardous substances in qualified areas.

Qualified Zone Academy Bonds: State OR local governments can issue bonds at no interest to them to finance certain public school programs IN SCHOOLS that have at least 35 percent of students eligible for free or reduced cost lunch program. Private businesses must contribute money, equipment or services equal to 10 percent of the bond proceeds. The federal government pays the interest in the form of tax credits.

Zero Percent Capital Gains Rate: A business that holds an asset for at least five years does not have to pay taxes on the profit of its sale.

New Markets Tax Credit: Investors in qualified projects can obtain a tax credit of 5 to 6 percent of the amount invested for each of the years the investment is held, for up to seven years of the credit period.

Low-income Housing Credit: Ten year credit for owners of newly constructed or renovated rental housing who set aside a number of units for low-income residents. The State must allocate a portion of its annual cap.

We have an available workforce of over 4000 people ready and willing to work for your business.  This workforce can be trained to suit your needs.

 

The Renewal Community Initiative takes an innovative approach to revitalization. It brings communities together through public and private partnerships to attract the investment necessary for sustainable economic and community development. The Initiative recognizes that local communities, working together, can best identify and develop local solutions to the problems they face.

Businesses that construct or rehabilitate commercial property in Renewal Communities (RCs) can deduct a portion of the costs of acquisition and rehabilitation over a shorter period of time than permitted under standard depreciation rules. A business can elect a deduction of one-half of “qualifying revitalization expenditures” (QRE) up to $10 million for any one project in the year the building is placed in service or can deduct all QRE pro rata over 10 years.

 

 

(C) 2004 Turtle Mountain Band of Chippewa Indians