California Enterprise Zones
Enterprise Zone Hiring Credit
The Enterprise Zone Hiring Credit allows zone-located businesses to claim a state income tax credit based on the wages paid to qualifying employees.
Each qualifying employee can generate more than $10,000 in tax credit during the first 12-months of employment, and more than $30,000 during a 5-year term of employment.
Opportunities for the Hiring Credit are widespread. Many of our clients offset nearly 100% of their state income tax liability. Unused or extra credit will carry forward to offset future tax liabilities.
Enterprise Zone Sales and Use Tax Credit
Businesses that purchase qualifying assets for use in a California Enterprise Zone can claim a credit against state income tax based on the amount of sales or use tax incurred.
Romo & Associates, Inc. conducts a technical analysis of the capital assets purchased and put into service by zone-located businesses. Most zone businesses qualify for the Sales and Use Tax Credit.