California ~ Corporate, Personal Income Taxes: Enterprise Zone Wind-Down Page Posted

For purposes of California corporation franchise and income and personal income tax incentives, the Department of Housing and Community Development has posted on its website a page “intended to be a resource to members of the public who are interested in the latest information regarding Enterprise Zones and their efforts to wind-down program activities while continuing to provide vouchering services to their communities.” Recent legislation repealed the full-time employment hiring credit against personal income and corporation franchise and income taxes and certain personal income and corporation franchise and income tax incentives available to businesses located in certain areas, as reported. (TAXDAY, 2013/07/12, S.6)

The department notes that in order to allow Enterprise Zone businesses an opportunity to apply for hiring tax credits already earned for qualified hires made through December 31, 2013, vouchers may be applied for and issued until December 31, 2014. This is the only State Enterprise Zone benefit that will remain available after the repeal of the program on December 31, 2013. As the department receives information regarding changes in local Enterprise Zone operations, it will post the information on the website to provide “a billboard of notices,” along with contact information.

 

Enterprise Zone Program Wind-Down, California Department of Housing and Community Development, January 3, 2014

 

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