WHAT IS AN ENTERPRISE ZONE?
Enterprise Zones are State established areas targeted for economic development and revitalization. Companies are encouraged to expand within the California Enterpise Zones, making them eligible for increased state tax benefits. Typically, these targeted areas are economically
distressed.
WHAT BENEFITS ARE AVAILABLE TO A COMPANY
LOCATED IN A CALIFORNIA ENTERPRISE ZONE?
Companies in California Enterprise Zones are eligible to receive potentially thousands of dollars in state income tax refunds and credits to offset future liabilities. Credit calculations are based on company employees hired within the past six years who meet certain program qualifications.
WHY WOULD MY CPA NOT OBTAIN THESE TAX
REFUNDS AND TAX CREDITS FOR ME?
The Enterprise Zone program is largely a human resource program and although your CPA may be familiar with the program, it does not mean that he/she knows how to take full advantage of it nor do they have the time to spend on such a project. Cal Tax Group works very closely with CPA's to ensure Enterprise Zone tax credits are realized for their clients within the zones.
DO MY EMPLOYEES HAVE TO LIVE
IN THE ENTERPRISE ZONE FOR MY COMPANY
TO QUALIFY FOR HIRING TAX CREDITS?
No. An employee living in the Targeted Employment Area (TEA) is one of many (13) criteria that qualify an employee. With the help of CTG, companies with no employees living in the Enterprise Zone are STILL eligible to recover thousands of tax dollars and gain the opportunity to offset some future liabilities as well.
WHY SHOULD I USE CAL TAX GROUP TO OBTAIN
ENTERPRISE ZONE TAX CREDITS?
Cal Tax Group offers to all clients their extensive knowledge of the Enterprise Zone program and expertise in how best to utilize the various benefit programs available. Cal Tax Group provides this top level consultation at the best rates in the industry as well as NO upfront costs or fees.
WHAT TAXES CAN MY COMPANY GET REFUNDED?
For companies in Enterprise Zones, Cal Tax Group can potentially recover any income taxes paid to the state of California by you and/or your company over the past four years. If your business is privately held, such as an S-Corporation or Sole Proprietorship, CTG can recover anything the owner(s) have paid in personal income taxes to the state. The statute of limitations for recovery is four tax years for most zones. If located in a Federal Zone, some federal taxes can be recovered as well.
WHAT IS OUR COMPANY'S INVOLVEMENT
IN THIS PROCESS?
Very minimal. Cal Tax Group will spend a short amount of time conducting an in-house review of employee and company information needed for processing state vouchering and Enterprise Zone applications and forms. All other work required will be completed at CTG's offices. This compilation will then be filed with the state of California.
WHAT IS THE BEST WAY TO CONTACT CAL TAX GROUP?
634 S. Spring Street
Suite 711
Los Angeles, CA 90014
Tel. 213.746.2841
Fax. 213.402.8401
San Diego Office:
404 14th Street
San Diego, CA 92101
Tel. 858.412.6078
Visit our contact page
