Santa Ana Enterprise Zone Expands Boundaries

In February 2010, the Santa Ana Enterprise Zone (EZ) expanded its boundaries to include many new businesses. If you were not located in the EZ, but have a Santa Ana street address, it’s very possible you may now be eligible for the substantial tax saving incentives of the EZ. If you would like to know if you now qualify for EZ incentives, call our receptionist at 714-569-1000 and she will put you through to one of our ELLS advisers who can help you.

Among the most popular EZ benefits is the hiring credit. Businesses of any type can earn $37,440 or more in state tax credits for each qualified employee hired. An employee does not have to live within EZ boundaries to qualify their employer for this credit. In addition, some companies can earn sales tax credits on purchases up to $20 million per year of qualified machinery and parts and can take advantage of up-front expensing of certain depreciable property.

Another advantage is that companies located in the EZ can earn preference points on state contracts. Unused tax credits can be applied to future tax years, stretching out the benefit of the initial investment. If you are not currently taking advantage of the EZ tax credits, this may be a great opportunity for you.