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Enterprise Zone (EZ) Tax Credits and Incentives

The Enterprise Zone program was established in 1984 to stimulate business investment in depressed areas of the State and create job opportunities for Californians. Today, businesses and workers both continue to benefit from the program.

CALIFORNIA STATE EZ PROGRAM

· More than $37,000 in hiring tax credits for each qualified employee hired over five years.

· Sales and Use tax credits on purchases of qualified machinery and parts (phone equipment, fax machines, printers, manufacturing equipment, etc.)

· Accelerated expensing of certain depreciable property

· Up to 100% Net Operating Loss deduction and 15 year carry-forward

· Application of unused tax credits to future tax years

· Net Interest deduction for Zone business lenders

SF LOCAL EZ PROGRAM

· Payroll Tax Credit for businesses that have created new job jobs filled by individuals belonging to one or more of the targeted groups. This is a ten year declining scale tax credit against the San Francisco Payroll Tax expense for new jobs created on or after Jan. 1, 1992.

ELIGIBILITY
Businesses must be located within the boundaries of the Enterprise Zone. Find out if your business address qualifies for the state zone effective through May 27,2007 and/or new state zone EZ tax credits and incentives.

JOBS NOW!

JOBS NOW! SF is a simple program created by the City of San Francisco which provides Federal stimulus funds to businesses to hire local residents. Working together, the City and local businesses can put at least 2,000 San Franciscans back to work between May 2009 and September 2010.

· For Employers: JOBS NOW! SF is a simple program that makes the recovery work for businesses. The City provides worker referrals and reimburses you 100% of the wages through September 30, 2010.

· For Job Seekers: JOBS NOW! SF offers qualifying San Francisco residents a simple route to great jobs with local companies. Most unemployed single parents and many families will qualify automatically. There are a wide range of job types available to participants through the JOBS NOW! program.

Interested employers or job seekers should call 1-877-JOB1NOW (1-877-562-1669) or go to the JOBS NOW! website for more information.

Renewal Community (RC) Tax Credits and Incentives

San Francisco businesses are eligible to receive wage credits, tax deductions, capital gains exclusions and bond financing to stimulate economic development and job growth in locally designated Federal Renewal Community zones.

TAX CREDITS AND INCENTIVES

Businesses can claim up to $1500 or 15% of the first $10,000 earned by each employee who lives and works in the Renewal Community (RC). Find out if your employees reside in the Renewal Community.

Businesses are also eligible for zero percent tax on capital gains, accelerated depreciation through Commercial Revitalization Deductions, and other incentives.

ELIGIBILITY

Businesses must be located in designated Renewal Community zones, including the Tenderloin, Chinatown, Civic Center, South of Market and Mission neighborhoods and certain parts of the Financial District. Find out if your business is located in the Renewal Community.

NEED ASSISTANCE?
Contact Natosha Safo at (415) 554-6130

 

Go to the next step: Step 8. Hire Your Workforce

Last updated: 3/23/2010 1:18:43 PM