Have you heard of Enterprise Zones? If your business is located in "the Zone" (in Orange County, Zone areas include Anaheim and Santa Ana) you may receive a state tax credit of up to $37,440 per qualified employee. However, you may be running out of time to claim your share of this valuable credit. There are some proposed changes that could affect California Enterprise Zones. The state has proposed new, more restrictive regulation regarding the Enterprise Zone … [Read more...]
Selling Your Business Without Paying State IncomeTax
October 26, 2012
Selling your business in California without paying California tax is possible. I recently worked with a client to help them to do just that. The company was an S corporation located in a California Enterprise Zone. The company had been generating Enterprise Zone tax credits and had accumulated a significant amount of unused credits. The company’s sale was structured as a stock sale however, the sale of stock did not allow the company to use Enterprise Zone credits … [Read more...]
Attention Anaheim Enterprise Zone Businesses
July 18, 2012
The Anaheim Chamber of Commerce will be holding an Enterprise Workshop for businesses in the Anaheim Enterprise Zone Thursday, July 26th at the Anaheim Regional Medical Center. For more information visit the Chamber's website http://bit.ly/9pDSZB. ELLS CPAs will be educating businesses on the various tax incentive available in the Enterprise Zone. See you there! … [Read more...]
The Anaheim Enterprize Zone is Here!
January 24, 2012
The waiting is over! Anaheim received its Enterprise Zone final designation, with effective start date of February 1, 2012! Yes, enterprise zones are still around in California. What you heard on the news was the elimination of economic development agencies. Enterprise zones have NOT been eliminated! Orange County has two enterprise zones – Anaheim and Santa Ana. If you think your business is located in an enterprise zone, give us a call at … [Read more...]
Start 2012 Off by Reducing Your California Tax Liability With Enterprise Zone Credits
January 11, 2012
If you own a business in certain areas of Santa Ana or Anaheim, California, you should be taking advantage of the California State Enterprise Zone (EZ) Credits. These credits can reduce or eliminate your state income tax liability. ELLS CPAs has seen manufacturing businesses owners save over $1 million in state income taxes over the years by using these credits. EZ Credits work best if the business is a sole proprietor or in a pass thru entity like an S Corporation, … [Read more...]
Enterprise Zone News
October 18, 2011
Great Enterprise Zone news – especially for Anaheim Enterprise Zone! The Department of Housing and Community Development (HCD) has finally been given the go ahead from the Governor’s office to complete pending zone applications. This means Anaheim will receive its final Enterprise Zone designation as soon as all required paperwork is processed. Call Carol Painter, ELLS CPA's EZ Specialist, for more information about claiming your Enterprise Zone tax credits … [Read more...]
ELLS Visits Anaheim Rotary
September 28, 2011
ELLS Shareholder Greg Lewis, Director of Marketing Lindsay Conderman, Anaheim Rotary President Greg Smith, ELLS Tax Manager Carol Painter and Shareholder Ed Lieber posed for a picture after the ELLS' Anaheim Enterprise Zone Presentation. ELLS shared information about business/employee eligiblity, calculation of credits and other tax advantages to the Anaheim Enterprise Zone. For more information about the Anaheim Enterprise Zone ELLS CPAs at 714.569.1000. … [Read more...]
ELLS Welcomes Anaheim Businesses to the Enterprise Zone
September 15, 2011
Congratulations to the newly appointed Anaheim Enterprise Zone. Anaheim joins 42 other cities in California that also are home to these incentivized areas for businesses. Businesses in Anaheim can look forward to hiring tax credits, sales or use tax credits, increased expense deduction, net operating loss carry forward and net interest deduction for lenders. ELLS CPAs is a proud supporter of the California Enterprise Zones and we look forward to helping businesses in … [Read more...]
California Enterprise Zones….SAVED!
July 12, 2011
A California budget has been passed and Enterprise Zones are still alive and well for 2011! Local Zones include Anaheim, Santa Ana and Long Beach. The EZ Hiring Credit generates over $37,000 in CA tax credits for just one qualifying employee! Call us today to find out if you are in a Zone and how your business could benefit.To learn more about the Enterprise Zones and to start claiming your tax credits call ELLS CPAs at 714.569.1000. Posted July 10, 2011 … [Read more...]
