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California Governor Jerry Brown released his May budget revise today, revealing additional intentions for the State’s enterprise-zone program.
From page 68:“The [enterprise zone] hiring credit will be refocused to specific areas with high unemployment and poverty rates. This credit will be available for the hiring of long-term unemployed workers, unemployed veterans, and people receiving public assistance. The Enterprise Zone sales tax program will be expanded to a statewide, upfront sales tax exemption for manufacturing or biotech research and development equipment purchases.”
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As reported earlier this month, the 2014 fiscal budget as proposed by the White House includes a proposal to make the VOW to Hire Heroes tax credits permanent. It would accomplish this by giving permanency to the entire Work Opportunity Tax Credit (WOTC) program — of which the VOW tax credits are an integral part. (more…)
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Last summer, the House Subcommittee on Select Revenue Measures held hearings to explore HOW to evaluate the numerous tax extenders coming before Congress each year. Chairman of the Subcommittee, Congressman Pat Tiberi (R-OH) explained at the time: (more…)
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This question has been coming up since the passage in January of the American Taxpayer Relief Act of 2012. Did the act renew the Washington DC Empowerment Zone designation?
Answer: Unfortunately, no. (more…)PUBLISHED IN
