Category: Workplace Accessibility

The California Franchise Tax Board’s July 2009 Tax News came out yesterday. One of the items is of interest to enterprise zone businesses — and especially banks that loan money to enterprise zone businesses. It was previously the FTB’s policy to disallow the enterprise zone net interest deduction for otherwise qualifying loans made to non-profit organizations. That policy has been changed. (more…)

Late last week, the California Yuba Sutter Enterprise Zone received the long-anticipated approval of its new Targeted Employment Area. The effective date of this Targeted Employment Area stretches back retroactively to October 15, 2006 – the effective date of the Yuba Sutter Enterprise Zone itself. (more…)

As you may recall, the American Recovery and Reinvestment Tax Act of 2009 expands the Work Opportunity Tax Credit Program to include two new eligibility categories — Disconnected Youth and Unemployed Veterans. (more…)

Below is a reprint in full of a brief article published today in the June 2009 issue of California’s FTB Tax News for Tax Professionals.
June 2009 – The Enterprise Zone (EZ) tax incentive program was created in 1986 to help local businesses, and encourage outside businesses to locate in economically depressed areas. The federal government does not have a comparable economic development program or business tax incentives. (more…)

The June 2009 issue of FTB Tax News for Tax Professionals came out today and included two items about the California Enterprise Zone program. The first article is technical in nature, titled “Credit Limits for Limited Liability Companies.” (more…)

We reported yesterday that the IRS has issued IRS Notice 2009-28, providing statutory definitions for the new WOTC eligibility categories of Unemployed Veteran and Disconnected Youth. There is more good news.
The IRS has issued a May 2009 revision of IRS Form 8850 “Pre-Screening Notice and Certification Request for the Work Opportunity Credit.” This revision includes pre-screening questions for the two new categories. (more…)

For you commercial real estate professionals, consider this recent press release from Creative Environments of Hollywood. This firm specializes in “creative and industrial Los Angeles lofts and office space.” As part of their methodology, they include an awareness of special tax benefits associated with the numerous state and federal tax-favored zones in that region. (more…)

Hot off the press! The Internal Revenues has just issued Notice 2009-28, which you are welcome to click and read if you are sufficiently brave and enjoy wading through IRS language. Notice 2009-28 provides expanded statutory definitions for the new WOTC employee-eligibility categories signed into law by President Obama in February. This expansion of the WOTC program was part of the American Recovery and Reinvestment Act. (Please see previous post: New WOTC Tax Credit Opportunities Arising from Stimulus Bill.) (more…)

Yuba City, California, one of multiple communities benefiting from the Yuba-Sutter Enterprise Zone, recently hired Darin Gale as its new Economic Development Manager. Read todays’ article in the Appeal-Democrat by reporter Ashley Gebb. (more…)

Good news is in from the WOTC Coalition. We have been patiently waiting for guidance about the WOTC program’s two newest eligibility categories. In a private publication, which we received today, Paul E. Suplizio, President of the WOTC Coalition, stated his belief that long-awaited guidance would probably come from the IRS and U.S. Department of Labor within the next two weeks. (more…)