Anaheim Enterprise Zone Tax Credits
Designated in 2012, the Anaheim Enterprise Zone program offers the potential to provide millions in savings to businesses located in the Anaheim Enterprise Zone. Qualified businesses may take advantage of all available Enterprise Zone credits and are not limited to just one.
Business located in the Anaheim Enterprise Zone may reduce their State Income Tax by a percentage of the wages paid to one or more qualified employees. A business has the potential of earning $37,440 in tax credits per qualifying employee over a five-year period.
Example: If a business hires a qualified full-time employee, working 2080 hours at $12.00 per hour, the hiring tax credit would generate a tax savings of up to $37,440 per employee, over a five-year period.
There are many ways for employees to qualify including: individuals who live in targeted employment areas or individuals who have been recently laid-off to name just a few. The tax credit is retroactive to employees hired after the Anaheim Enterprise Zone designation date of February 1, 2012, and excess credits can be carried forward to offset future tax obligations.
What is involved in an Anaheim Enterprise Zone Tax Credit Study?
KBKG’s streamlined process allows us to find maximum savings for your business with very little information needed. Our team of experts will go through our efficient screening process which includes:
- Identifying qualified equipment and employees
- Coordination with government agencies to document qualifications
- Obtaining certification of eligibility
- Analyzing payroll records to compute credit values
See if you qualify for the Enterprise Zone Tax Credit
"Participating businesses save anywhere from thousands to hundreds of thousands of dollars per year."