Enterprise Zone Roundtable – There is Still Time to Save
On June 25, 2013, the California State legislature passed Assembly Bill 93, which eliminates the existing Enterprise Zone Program in California as of January 1, 2014. Elimination of this program results in the loss of thousands of dollars in potential tax incentives to local business owners, big and small.
California’s current EZ program offers income tax credits to taxpayers located within specific geographic areas called Enterprise Zones. AB 93 phases out the current EZ program ending the ability for businesses to generate new EZ credits for tax years beginning after January 1, 2014. However, until midnight on December 31, 2013 the applicable tax credits, including the hiring tax credit, are still available. Your business can carry forward EZ tax credits for 10 years if they are secured before the approaching deadline.
The San Bernardino Valley Enterprise Zone is hosting a business roundtable to address the numerous questions about the effects of Assembly Bill 93 and provide business owners with the most current information about how they can act now to save money in the future. Business owners, small and large are encouraged to attend, as well as bankers, CPA’s, real estate professionals and business organizations dedicated to saving taxpayer dollars and creating jobs in the inland region.
The SBVEZ roundtable will be held on Tuesday, August 20 at 9:00 am at the Norton Regional Event Center located at 1601 E. 3rd Street in San Bernardino, CA 92408. The 1-hour discussion will begin at 9:00 a.m. with opening remarks from Mayor Patrick J. Morris and will include an opportunity for participants to meet with EZ experts to discuss how tax benefits may benefit your business or client. Seating is limited, call (909) 382-4538 to reserve your seat today or visit www.sbvez.com for additional information.