Good news for businesses within Merced County, California! The California Department of Housing and Community Development has approved a 1,877 acre expansion of the Merced Regional Enterprise Zone. Merced County’s Board of Supervisors had voted to expand the zone in April 2010.
Businesses within the areas covered by the expanded zone will be eligible for the same tax benefits as other enterprise zone businesses. These include the enterprise zone hiring credit, sales & use tax credit, business expense deduction, and net operating loss carryover & deduction. Banks and other lenders who extend credit to businesses within the enterprise zone are eligible for the enterprise zone net interest deduction.
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Please feel welcome to call me if you have questions about the expanded zone or other questions about the tax benefits of California’s enterprise zone program. I am Vaughn Hromiko, vah@WOTCPlanet.com, (800) 655-5281, ext 101.