Yesterday, the Board of Equalization voted to adopt the Nassco Formal Opinion.  This means  that EZ credits can be used to offset the Alternative Minimum Tax.  The decision will be final 30 days from yesterday at which time the opinion will be posted on the BOE’s website.

“Salinas, Greenfield and other south Monterey County cities lining up to take action are doing the right thing by approving expansion of the Salinas Valley Enterprise Zone.  By doing so, they are sending a message loudly and clearly that we welcome businesses to set up shop in our communities.”

  Read the article here.

Coachella valley EZ has come up with a simple yet catchy way to advertise its EZ.  They’ve put up road signs alerting businesses that they are “entering” an EZ.  Here’s the article.

Here is the FTB’s November Tax News.

Mark Weber, the newly installed manager of the Coachella Valley EZ is interviewed.  Mark echoes what many legislators and businesses have been saying a lot lately, i.e. “the enterprise zone program is one of the only remaining economic development programs left in the state.”  See the video here.

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In the Tax Foundation’s 2011 State Business Tax Climate Index, California dropped from the 48^th worst state in the nation to do business in to the 49^th worst.  California lags behind only New York (but there’s always next year). 

See the Foundation’s paper here.

The LA Times editorial board actually wrote last week that California’s businesses are not overtaxed.    Some might disagree with that proposition.  Loren Kaye, President of the California Foundation for Commerce and Education brings some pretty convincing facts to prove that California’s businesses are considerably overtaxed and at a disadvantage right out of the gate because of oppressive taxation and poor leadership.

The fundamental problem with the Times article, and much of the left-of-center criticism of California business taxation – is that they posit a world where public policy is a passive pawn in the hands of manipulative corporations, in the words of Controller John Chiang, “A lot of the tax credits are given to larger business…”

No, not “given.” Companies invest in California, buy equipment and buildings, hire workers, are successful in producing and selling their product or service, make a profit – in California – pay taxes, and earn a credit if they have made investments according to the policies underlying the credit. This is an active, dynamic and competitive economy, influenced by state policy and the interest in businesses in investing here.

Read the entire article here.

Colton Mayor Kelly Chastain boasts about how the San Bernardino Enterprise Zone has helped keep businesses and how she plans to attract more businesses. 

Having served the residents of Colton for 14 years, I have seen firsthand how tax incentives and funding programs support businesses. The city of Colton is among the locations in California to be a part of a designated Enterprise Zone. These zones offer employers a series of business and tax incentives to help them offset the high cost of doing business in the state.

Read the full San Bernardino Sun article here.

That’s what Fox Business News guest called California’s legislature in explaining why 144 companies left California this year.  Business relocation expert Joseph Vranich listed a host of reasons why California is the worst state in the union to do business.  Negative business climate, high regulation and excessive taxes were all reasons why companies are fleeing California.  Los Angeles, Vranich said, was the worst city in United States to do business.  See the interview here.

This year’s CAEZ conference will feature prominent business consultant Larry Kosmont. 

Kosmont is an industry veteran who specializes in providing economic development, finance, and real estate advisory services to both public agencies and private corporations. As an economic development consultant Kosmont assists companies with finding business-friendly cities.

He established Encino-based Kosmont Companies in 1986 and is well known for founding The Kosmont – Rose Institute Cost of Doing Business Survey™, a national publication that compares taxes and incentives for more than 400 cities and counties nationwide.

Read the Highland News article here.