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CLC Tax Credits

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CA Enterprise Zone

CA Enterprise ZoneThe CA Enterprise Zone program was introduced in 1984. Since then, California Enterprise Zones have provided millions of dollars of tax credits and incentives each year to businesses throughout California. However, it is estimated that less than 10% of business located in CA Enterprise Zones actually take advantage of the program. CLC Tax Credits purpose is to assist businesses located in CA Enterprise Zones by helping them maximize their CA Enterprise Zone tax credit potential.

CA Enterprise Zone tax credits are designed to keep employers in California and create jobs in economically distressed areas. CA Enterprise Zone tax credits are available to all businesses located in one of the 42 CA Enterprise Zones. Ideally, businesses located in a CA Enterprise Zone can create more jobs in economically disadvantaged areas by taking advantage of the many lucrative benefits provided by CA Enterprise Zones.

CA Enterprise Zone tax credits can be used to recover any state income tax paid in the last 4 years as well as offset future state income tax liability. Tax credits for CA Enterprise Zones include a hiring credit worth up to $37,440 per qualified employee. Employees do NOT have to live in a CA Enterprise Zone in order to qualify for the hiring credit. This is a common misconception about the CA Enterprise Zone program. The truth is both Past and Current employees qualify for this hiring credit in many ways. The CA Enterprise Zone also provides businesses with a lucrative sales and use tax credit for any technology, manufacturing and energy saving equipment and investments.

CLC Tax Credits streamlines the CA Enterprise Zone program for businesses and tax preparers alike. CLC Tax Credits can provide amendments necessary to retroactively apply CA Enterprise Zone tax credits and recover any state income tax overpayments. C-Corporations can use credits to offset and recover corporate tax only. S-Corps, LLCs and other partnerships can use the California Enterprise Zone tax credit to offset and recover shareholder and corporate state income tax. Additionally, CLC Tax Credits can help employers identify eligible employees and qualify any equipment purchases and technology investments.

 

Our Mission

To help our clients realize their full Enterprise Zone benefit potential as efficiently as possible.

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