EXCISE TAX REFUND
Kings County Enterprise Zone
Located in the heart of California’s San Joaquin Valley, Kings County offers a combination of a plentiful and productive workforce at competitive wage rates. Major highway, rail and air service linking to metropolitan markets and it’s pro-business attitude make Kings County the right place to grow your business.
Industries locating or expanding in Kings County can access numerous pro-business incentives such as:
- Hiring Tax Credits – Firms can earn $31,574 or more in State tax credits for each qualified employee hired.
- Sales and Use Tax Credit – Zone companies may receive a sales tax and use tax credit for manufacturing or processing machinery, data processing and communications equipment and motion picture manufacturing equipment central to production and post production, to be used in the Zone. Individuals can claim a credit on the first $1,000,000 of qualifying purchases, while corporations can claim credit on the first $20,000,000 per year.
- Business Expense Deduction – Up front expensing of certain depreciable property.
- Net Operating Loss Carryover – Up to 100% of the NOL may be carried forward for 15 years.
- Net Interest Deduction – Lenders to Zone business may receive a new interest deduction.
- Unused tax credits – Can be applied to future tax years.
- Preference Points – Enterprise Zone companies can earn preference points on state contracts.
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