April 15th is Just Around the Corner--Do You Know about Tax Credits?

Do you know what an Enterprise Zone is? Did you know that of 478 towns and cities in California, only 42 have enterprise zones? Did you know that Long Beach is one of those? And has been for the past 16 years and will be for at least another 15? Did you know that just by being located in Downtown Long Beach you qualify for tax credits?

That means that all small business owners in Downtown Long Beach should explore how they can benefit from this dynamic and tax-reducing program. Of the over 19,000 businesses within Long Beach’s enterprise zone, fewer than 500 are taking advantage of these special tax credits. Are you being left out?

The Enterprise Zone Program was developed by the California State Legislature to provide targeted areas with a means to stimulate business growth and attract new companies, jobs, and investment. There are several benefits to the program, including hiring credits, sales and use tax credits, business expense deduction, net operation loss carryover and net interest deduction lenders. And this is just the beginning!

For more information on how to take advantage of these many benefits (even retroactively), contact Craig Johnson, Enterprise Zone Manager, at (562) 570-3842 or at Craig_Johnson@longbeach.gov. Make sure you do everything you can so that your business is ready for tax day!