Pasadena is a city in Los Angeles County. Famous for hosting the annual Rose Bowl football game and the Tournament of Roses Parade, Pasadena is the home of many leading scientific and cultural institutions, including the California Institute of Technology (Caltech), the Jet Propulsion Laboratory (the leading robotics and spacecraft design and manufacturing NASA center), Art Center College of Design, the Pasadena Playhouse, California School of Culinary Arts Pasadena and the Norton Simon Museum of Art. As of the 2000 census, the city population was 133,936, making it the 160th largest city in the United States. The California Finance Department estimated the Pasadena population to be 146,166 in 2005. Pasadena is the 6th largest city in Los Angeles County, and the main cultural center of the San Gabriel Valley.

If you are looking to move your business into Pasadena there are a wide range of tax credits available to you, such as:

Hiring Credit Program
This five year state tax credit, potentially up to $37,000 per qualified employee, for full-time or part-time employees that meet one of the twelve qualifying criteria under the Hiring Credit Program. Potential criteria includes but not limited to: previously laid off due to plant closure or downsizing, military veteran, public assistance recipient, and resident of a targeted employment area. Enterprise Zone business must obtain a Hiring Credit Voucher from the Pasadena Enterprise Zone Office.

• Targeted Employment Area Ranges for 2007 Designation
• 2007 Targeted Employment Area Map
• State Income Limits 2008 to 2000

Sales and Use Tax Credit
Allows Enterprise Zone businesses to claim a state tax credit equal to the sales and use tax paid on the purchase of qualified equipment. Qualified equipment includes assets such as manufacturing, data processing, office, audio/video, and computer equipment.

Business Expense Deduction
Enterprise Zone businesses may deduct up to 40% of the cost of qualified property purchased for exclusive use in an Enterprise Zone during the first year it’s placed in service.

Net Operating Loss
Enterprise Zone businesses may elect to carry forward 100% of their net operating loss for 15 years.

Net Interest Deduction for Lenders
Lenders can earn a deduction from income on the amount of net interest earned on loans made to Enterprise Zone businesses. Businesses looking for an edge in applying for a loan should bring this credit up with your lender.

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