# Small Business Tax Credit

**Type:** Grant
**Category:** Other Programs
**Eligible Regions:** Newfoundland and Labrador
**Official Source:** https://www.gov.nl.ca/fin/tax-programs-incentives/business/corporateincometax/

## About This Program

Reduced tax rate for Newfoundland and Labrador small business

## Details

Small business owners, through the Small Business Corporate Income Tax, will apply a reduced rate of 2.5% to determine their corporate income tax payable instead of the general corporate income tax rate of 15%. The reduced rate of 2.5% applies to the first $500,000 of active business income earned in the province and that qualifies for the federal small business deduction.

## Apply Automatically with GrantOps

GrantOps automates applications for this program and 5,500+ other Canadian government incentives.

- Connect GitHub, Jira, Linear, or your project tools
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Start free: https://app.grantops.ai/auth?mode=signup
This program: https://grantops.ai/en/programs/small-business-tax-credit-039dc6/
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