Enterprise Zone
Stanislaus Enterprise Zone
In . The . Zone
Effective November 16, 2005
- 2020
Read: EZ Letter of Date
Designation
Who Qualifies?
- Existing and expanding businesses within the zone
- New business locating within the zone
What are the incentives?
Modesto along with its partners are here to encourage economic
and community development, and maintain a business-friendly
climate. See if your facility or business falls within the
boundaries of the EZ or within the
address range listing. The
TEA address listing
is also available here.
The following
incentives are available through the
State of California, from which the following
summary was obtained (Printable
Fact Sheet):
Hiring Tax
Credits
EZ businesses can earn up to $31,574 in State tax credits for
each qualified or voucher employee hired over a five-year
period. Refer to
The Alliance for information about
eligibility criteria for determining whether an employee
qualifies for this credit." They can also be reached at
(209) 523-ZONE (9663).
Sales and Use
Tax Credit
EZ businesses may receive the sales or use tax credit for
the purchase of manufacturing or processing machinery, data
processing and equipment used in the EZ. Individuals,
partnerships, subchapter S corporations, and limited liability
companies can claim a credit on the first $1,000,000 of
qualifying purchases per year, while corporations can claim
credit on the first $20,000,000 of purchases per year.
Business Expense
Deduction
Up front expensing of certain depreciable property can be
claimed.
Preference
Points
EZ businesses can earn preference points on state
contracts.
Operating Loss
Carryover
Up to 100% of the Net Operating Loss may be carried forward
for up to 15 years.
Net Interest
Deduction
Lenders to EZ businesses may receive a net interest
deduction.
Unused Tax
Credits
Unused tax credits can be applied to reduce future tax
liability.
In addition to
the incentives offered from the State of California, Modesto
offers the following incentives:
Local Incentive
Zone
Expanding businesses zoned for manufacturing or business park
uses may be eligible for rebates. For more information refer to
Local Incentive Zone
CFF Deferral
Businesses constructing new facilities may be eligible for a
deferral of the CFF fee and contract for a payment schedule over
a 10 year period. For more information refer to
CFF Deferrals
For more
information regarding the Stanislaus Enterprise Zone please call (209) 571-5566.
This page was updated on: Wednesday, December 05, 2007 11:25:44 AM |
