California S.B. 974's Impact on California Enterprise Zones

The California Enterprise Zone (EZ) tax credit program was established in 1984 in an effort to stimulate business and industrial growth in economically depressed areas of the state. Through the FZ program, the state legislature declared that it was in the economic interest of the state to have one s...

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Bibliographic Details
Published in:The Tax Adviser 2010-11, Vol.41 (11), p.754
Format: Article
Language:English
Subjects:
Certification
Economic development
Employees
Employers
Employment
Enterprise zones
State budgets
Tax credits
Tax incentives
Tax legislation
Tea
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Summary:The California Enterprise Zone (EZ) tax credit program was established in 1984 in an effort to stimulate business and industrial growth in economically depressed areas of the state. Through the FZ program, the state legislature declared that it was in the economic interest of the state to have one strong, combined and business-friendly incentive program to help attract business and industry to the state, to help retain and expand existing state business and industry, and to create increased job opportunities for all CaIifornians (CA Gov't Code §7071(b)). However, with California's financial crisis, opponents of the EZ program have recently attacked its effectiveness, arguing that certain provisions in California's tax code are not living up to their expectations. This article highlights the proposed changes to the EZ program and the potential impact on taxpayers.
ISSN:0039-9957