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CLC Tax Credits

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California State Tax Credit

California State Tax CreditCalifornia State Tax Credits such as the Enterprise Zone program are designed to keep businesses in California and create jobs in economically impoverished areas. The California State Tax Credit programs have been in existence since the 1980s. However, most businesses are unaware of the many lucrative California State Tax Credits available to them. Currently, there are 42 Enterprise Zones throughout the Golden State. All businesses located in one of California’s 42 Enterprise Zones are entitled to claim any applicable California State Tax Credits both retroactively and on a go forward basis. CLC Tax Credits enables businesses to maximize their California State Tax Credit benefit and potential.

California State Tax Credits for businesses located in an Enterprise Zone include a hiring credit worth up to $37,440 per qualified employee. Employees qualify for this credit in several ways regardless if they are active or terminated. Another profitable California State Tax Credit available to businesses located in an Enterprise Zone include a Sales and Use tax credit for any technology, manufacturing and energy saving equipment and investments. To summarize, any sales tax paid on such items may be claimed as a California State Tax Credit and used to recover and offset any state income tax liability.

California State Tax Credit programs like the California Enterprise Zone, can be used to offset 100% of a businesses’ state income tax liability. C-Corporations can use California State Tax Credits to offset and recover corporate tax only.  S-Corps, LLCs, Sole-Proprietors etc. can use California State Tax Credits to offset and recover shareholder and corporate state income tax.

California State Tax Credits require expertise in order to be discovered and applied correctly. CLC Tax Credits provides a comprehensive California State Tax Credit solution to businesses located throughout California. CLC Tax Credits manages California tax credit programs from A-Z so businesses can focus on what they do best. Even if a business is currently utilizing California State Tax Credits, CLC Tax Credits can significantly increase available California State Tax Credit and in most cases, recover and eliminate any existing tax liability. CLC Tax Credits can also integrate and enhance existing tax preparer and CPA services.

 

Our Mission

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

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Get started with your free evaluation today!  Give us a call and within minutes we can help you determine your benefit amounts.