Anaheim Enterprise Zone
Anaheim Enterprise Zone program is designed to stimulate business growth in economically challenged areas of the city of Anaheim. Additionally, the Anaheim Enterprise Zone program is designed to create jobs through lucrative hiring tax credits to all eligible participating employers. The Anaheim Enterprise Zone program recently came into existence in December 2010. However, most businesses are unaware of the many lucrative benefits available to them and have yet to take advantage. The Anaheim Enterprise Zone now rounds out the state maximum number of 42 Enterprise Zones at any given time. Any business located in the Anaheim Enterprise Zone is eligible to participate in the program. CLC Tax Credits assists companies in maximizing their Anaheim Enterprise Zone tax credits.
Anaheim Enterprise Zone tax credits can be used to compensate 100% of a businesses state income tax liability with the exception of the $800 dollar state minimum tax. C-Corporations can use credits to offset and recover corporate tax only. S-Corps, LLCs and other partnerships can use the Anaheim Enterprise Zone tax credit to offset and recover shareholder and corporate state income tax.
The Anaheim Enterprise Zone’s tax credits include a hiring credit worth up to $37,440 per qualified employee. Current and Past employees qualify for this credit in several different and unique ways. Anaheim Enterprise Zones also provides businesses with a lucrative sales and use tax credit for any technology, manufacturing and energy saving equipment and investments.
CLC Tax Credits purpose is to provide a comprehensive tax credit solution to businesses sited in Anaheim Enterprise Zones. CLC Tax Credits manages tax credit programs from A-Z so businesses can focus on what they do best. Even if a business is currently utilizing the Anaheim Enterprise Zone program, CLC Tax Credits can drastically increase available Anaheim Enterprise Zone tax credit and in most cases, recover and eliminate any existing tax responsibility. CLC Tax Credits can also incorporate and enhance existing tax preparer and CPA services.
Anaheim Enterprise Zone tax credits are at the forefront of proving to be one of California’s most successful economic devices in attracting new business to the Anaheim and California. Moreover, Anaheim Enterprise Zones will play an essential role in creating jobs in economically challenged areas of Anaheim, the same way other Enterprise Zones have boosted their designated city’s local economy.