As you may be aware, the California Enterprise Zone program is currently undergoing an administrative rulemaking process which will severely reduce or eliminate the tax credit for many businesses. New regulations are anticipated to go into effect in June. Businesses located in Enterprise Zones should review their tax credits to ensure all available credits under the current regulations have been maximized. KBKG can help, but the time to conduct such a review is now. Businesses that delay this process will have limited options to file under the old regulations due to the time constraints involved with certifying these tax credits with government agencies.
Please contact our knowledgeable staff as soon as possible if you have questions about Enterprise Zones or would like KBKG to assist you in conducting a final review under the current regulations. KBKG serves the CPA community with focused expertise in our areas of service. If you have any questions about these rules, please know that we are always available to answer your questions.