Tax Savings for Santa Clarita Business. This is the mission of the Enterprise Zone

Tax incentives, the present frontier. These are the tax incentives of the city of Santa Clarita Enterprise Zone

It's mission: To explore new tax breaks and incentives for business. To allow private sector market forces revive the local economy.

To boldly go where the city has not gone before.

If your business is located within the city of Santa Clarita there is a 97% certainty that your business is within the Enterprise zone. (See Map)

Source: City of Santa Clarita

Some of the advantages of moving or owning a business in Santa Clarita

• Businesses who hire eligible employees within the zone could see a tax savings of $36,000 over a 5 year period.
• Sales and use tax credit on the amount of sales and use tax paid on qualified manufacturing equipment purchased or leased and used within the enterprise zone
• Business expense deduction of up to $40,000 depending on the year purchased can be deducted based on tangible business property purchased and used exclusively in the enterprise zone.
• Net Interest deduction for lenders from state income tax on a portion of the interest earned on loans within the enterprise zone.
• 100% of net operating losses can be carried over for up to 15 years.
• Income tax credit on personal income tax for qualified employees
• No business license
• No utility user tax
• Streamlined permit process

Additional on line resources available in Santa Clarita are the following:

Enterprise zone information

Economic Development Division

SCV Work Source Center Job seeker resources

Small Business Development Corporation

Valley Industrial Association

These are just a few benefits of owning a business in the city of Santa Clarita. Go to www.scenterprisezone.com for the most recent updates and information.

Please check with city for the most up to date information regarding the city enterprise zone. This is for informational purposes only. Check with city before making business decisions.

All views, opinions, observations are strictly my own, unless stated otherwise, and do not reflect the views of Keller Williams VIP Properties.

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Source: City of Santa Clarita