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efundable income tax credit of up to$75,000 per year (minimum investment of$50,000 to a maximum of $500,000) toeligible corporate and trust investors whoinvest in eligible small businesses in theprovince.Prince Edward IslandThe applicable corporate tax rate for acorporation operating in Prince EdwardIsland is dependent on the type of businessundertaken by a corporation. Applicablerates for 2014 include the following:Business TypeTax Rate(onJanuary1, 2014)General 16%Manufacturing &16%Processing (certaincorporations may beeligible for amanufacturing andprocessing profitsdeduction)Small Business 3 4.5%Financial Institutions must pay a FinancialCorporations Capital Tax at a rate of 5% ontaxable capital in excess of $2 million asdefined in the Prince Edward IslandFinancial Corporation Capital Tax Act. TheFinancial Corporations Capital Tax isdeductible from taxable income for federaland provincial corporate income taxpurposes.In order to stimulate economicdevelopment, the government of PrinceEdward Island has instituted a number oftax incentives for corporations in specificindustries. Invest PEI oversees an array offiscal measures to attract investment fromcorporations involved in industries such asaerospace, bio-sciences, renewable energyand information and communicationtechnologies. Further assistance may beavailable from the development arm of theprovincial government, Innovation PEI.For those businesses subject to corporateincome tax in Prince Edward Island, variousinvestment tax credits or rebates may beavailable. These include:Nova ScotiaInnovation and Development LabourRebate;Enriched Investment Tax Credit;Specialized Labour Tax Credit; andShare Purchase Tax Credit.The applicable corporate tax rates forcorporations operating in Nova Scotiainclude the following for 2014:3 The Prince Edward Island Small BusinessDeduction Limit is $500,000 as of January 1,2014.Taxation Law 59