Final months to voucher

The enterprise zone program was eliminated effective December 31, 2013. We will continue accepting and processing voucher applications through December 2014 for any employees hired prior to 12/31/13. We anticipate that the voucher fee will be increasing on May 1st, so it is recommended that you submit voucher applications sooner than later. Any unused credits that you accumulate can be carried forward and used to offset state tax liability for up to 10 years. We urge you to use the program benefits while you still can. Please contact our office if you have any questions. 559-688-6891 or lori@sequoiavalley.com

As you may know, the Governor is proposing to eliminate the tax credits for Enterprise Zones, replacing them with an incentive program that will only benefit a few high tech companies in the Bay area. In fact, the proposal also removes over 10 million California residents from being eligible for the hiring tax credit. We need your help - please go to www.enterpriseca.org and follow the link to "join the coalition". It is important for the Legislature to hear from employers and employees.

The Coalition website has the latest information on the proposal and you can always contact our office should you have any questions.

Thank you for your time and for your support of the EZ program.

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Is your business in an Enterprise Zone?

The Sequoia Valley Enterprise Zone (EZ) was established to provide businesses the opportunity to create additional jobs, access more resources, and increase overall profitability through tax savings. The Hiring Tax Credit can save employers up to $37,440 per qualified employee. Incredibly, fewer than 15% of qualified businesses know about - much less - utilize of this tremendous incentive. The EZ program can significantly add to your company's bottom line, making it a smart way to grow your business!

Other features of the Enterprise Zone include:

• Hiring Credit • Preference Points on State contracts
• Sale or Use Tax Credit • Net Operating Loss Carryover
• Business Expense Deduction • Net Interest Deduction for Lenders
• Permit fast tracking • 5 year development fee deferral

You are eligible to capture the tax credit by virtue of your location, regardless of business type, the number of people you employ, or your years of operation.

The Economic Development Corporation provides a number of programs and assistance in finding expansion and location sites to procuring financing for your project. We also maintain "tools for business success" and online information portal for small business and entrepreneurs.

Let's take the first step...