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April 5th, 2012
An article in Fox Business lists all the reasons NOT to do business in California. Yet despite all the negatives, entrepeneurs seem to flourish in the state. One of the bright spots is undoubtedly the Enterprise Zone tax credits. “Other business ventures that benefit California’s populace may be eligible for numerous tax credits, including enterprise zone credits, economic development area credits and targeted tax area credits.”
Read the full article.
Tags: california enterprise zone, CPA firms, Enterprise Zone Program, Enterprise Zone Tax Credits, Enterprise Zones, EZ tax credits, hiring tax credit, hiring tax credits, northern California, Tax News Posted in Enterprise Zones, Tax News | No Comments »
April 2nd, 2012
The Sequoia Valley Enterprise Zone, designated as such in January 2009, currently consists of 33,902 acres, and includes commercial, industrial, non-commercial and non-industrial areas, according to a Porterville Economic Development Department staff report.
The proposed expansion would increase Porterville’s boundaries by 72 parcels for a total of 143 acres. Tulare County’s enterprise zone, which includes the south county communities of Terra Bella, Tipton and Richgrove among 10 others, would be expanded by approximately 3,310 acres.
Read the full article.
Tags: california enterprise zone, Enterprise Zone Program, Enterprise Zone Tax Credits, Enterprise Zones, EZ tax credits, hiring credits, hiring tax credits, imperial valley, Sequoia Valley Posted in Enterprise Zones, Tax News | No Comments »
March 27th, 2012
In a recent survey, ”almost three-fourths (73%) of California firms that do business in multiple states say it is harder doing business in the Golden State than in other states, according to the 2012 business climate survey of the California Foundation for Commerce and Education. That finding is higher than in 2011 (57%) or in 2010 (63%). The study of 699 businesses is sponsored by the California Chamber of Commerce. No one in the 2012 survey said California is an easier place to do business.”
Respondents are “overwhelmingly unimpressed by California’s state government. Only 2% could name a state action in the past year that helped make it easier to run their business. Among the action named were enterprise zone tax credits, worker’s compensation reform and minimum-wage increase failed.”
Read the full OC Register article.
Tags: california enterprise zone, california tax law, canditax, enterprise zone news, Enterprise Zone Program, Enterprise Zone Tax Credits, Enterprise Zones, governor, hiring tax credit Posted in Enterprise Zones, Tax News | No Comments »
March 13th, 2012
The Second District Court of Appeals today ruled that the enterprise zone sales and use tax credit of Revenue and Taxation Code Sec. 23612.2 is not available in connection with the purchase of current expense assets, but rather only with the purchase of capital assets. Read the full opinion.
Tags: california enterprise zone, california tax law, california tax news, Enterprise Zone, enterprise zone news, Enterprise Zone Program, Enterprise Zone Tax Credits, EZ tax credits, hiring credits, sales or use tax, Tax News Posted in Enterprise Zones, Legislation, Tax News | No Comments »
February 17th, 2012
Assemblyman Louis Alejo, who has been a big supporter of the EZ program over the last few years, has introduced a new bill, AB 484, to address the operation of expiring zones. Assemblyman Alejo’s district includes Watsonville which is set to expire. HCD has indicated that it will not be renewing expiring zones or designating new ones for now. Alejo’s bill seeks to extend the expiring zones until new zones are designated.
Tags: CAEZ, california enterprise zone, Enterprise Zone, Enterprise Zone Program, Enterprise Zone Tax Credits, Enterprise Zones, EZ tax credits, hiring tax credit, hiring tax credits, Louis Alejo, tax credits, tax professionals, Watsonville Posted in Enterprise Zones, Legislation, Tax News | No Comments »
February 1st, 2012
The California Supreme Court has scheduled oral argument in the Dicon case for Tuesday, March 6, 2012 at 9:00 a.m. in San Francisco.
Tags: california enterprise zone, california tax law, california tax news, Enterprise Zone, enterprise zone news, Enterprise Zone Tax Credits, Enterprise Zones, EZ tax credits, hiring tax credit, hiring tax credits, Tax News Posted in Enterprise Zones, Legislation, Tax News | No Comments »
January 5th, 2012
Brown’s budget released today only hints at future reform measures to the Enterprise Zone program. Perhaps after getting rid of RDAs, the unions are a bit gunshy about outwardly attempting getting rid of another vehicle that has anything to do with jobs while the economy struggles. Here is what the budget said about Enterprise Zones:
“The resulting stability from a balanced budget will give businesses the certainty and the reassurance they need to invest in California. In addition, the Administration will propose legislation to reform the enterprise zone program and move to a mandatory single sales factor for apportioning multistate business income. Such changes will allow the state to afford investments in manufacturing, business incentives, and other tax relief.”
Tags: california enterprise zone, california tax law, california tax news, enterprise zone news, Enterprise Zone Tax Credits, Enterprise Zones, EZ tax credits, governor, hiring tax credit, hiring tax credits, Tax News Posted in Enterprise Zones, Legislation, Tax News | No Comments »
January 5th, 2012
From the Sacramento Bee:
Gov. Jerry Brown will release his budget today at 2:30 p.m. after his administration mistakenly posted the document on the Department of Finance website.
The projected budget deficit is $9.2 billion through June 2013, according to sources who have seen the document.
The Democratic governor was scheduled to release the budget on Tuesday and dismissed reporters’ questions this morning about his plan, saying he wanted to be sure the media would show up for next week’s release.
The budget announcement will be streamed online live at his website.
Tags: CAEZ, california enterprise zone, california tax law, Enterprise Zone, enterprise zone news, Enterprise Zone Program, EZ tax credits Posted in Enterprise Zones, Legislation, Tax News | No Comments »
January 5th, 2012
Let the games begin. Speaker Perez spoke out about the redevelopment case and what it means to Enterprise Zones.
“A second look will also no doubt be taken at the issue of local economic development in the wake of the California Supreme Court ruling that abolishes more than 400 local redevelopment agencies next month. Speaker Perez dismissed any notion that actual RDAs will be recreated by the Legislature; instead, he emphasized the need for ways to promote job creation and economic stimulus that doesn’t favor one region over another. And he suggested that the scrapping of RDAs could reignite his the effort of many Democrats to revise the state’s enterprise zone program.”
Read the full article.
Tags: california enterprise zone, california tax law, california tax news, Enterprise Zone, Enterprise Zone Program, hiring tax credits Posted in Enterprise Zones, Legislation, Tax News | No Comments »
January 4th, 2012
Tala Enterprise, a clothing maker that idled its denim line in China to bring its production back to the United States, officially opened a new knitwear manufacturing plant in the Coachella Valley Enterprise Zone.
“Assemblyman V. Manuel Pérez noted that the plant’s opening in the Coachella Valley Enterprise Zone comes at a critical time when California has frequently been labeled as unfriendly to business.
The very existence of this new business illustrates the importance of the state’s enterprise zones, which provide companies extra benefits to open, the Coachella Democrat said.”
Read the full article.
Tags: Assemblyman V. Manuel Perez, california enterprise zone, california tax law, coachella valley, Enterprise Zone, Enterprise Zone Program, Enterprise Zone Tax Credits, hiring tax credits Posted in Enterprise Zones, Featured Zone, Tax News | No Comments »
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