The enterprise-zone elimination bill has passed the California Assembly. This bill ends the enterprise zone program as of December 31, 2013. However, employers in an enterprise zone that hire someone before the deadline will continue to earn tax credit on the wages paid to qualifying employees. An employer is able to participate in this tax credit for up to 5 years if the employee remains employed in the (now former) enterprise zone. Taxpayers who have generated excess tax credit would be able carryover and continue using the hiring credit and sales tax credit for up to 10 years.
This elimination bill does not effect the EZs and RRCs connected with the Work Opportunity Tax Credit. This was a tax credit specific to California employers. If you would like to find out if there are other tax credits available in your state, please contact WOTC Solutions. Even if you are not hiring at the moment, you can still get set up with a WOTC provider now. Be proactive and it will save time in the future.
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