SALT Report 3094 – The Franchise Tax Board released a new online tool that will identify the designated geographic areas in which businesses must be located to be eligible for the new jobs tax credit. The tool will allow employers to search a specific address to see if its location falls within DGA boundaries.
The FTB defines a DGA as a designated census area with a very high rate of unemployment. In addition, a DGA will include all prior Enterprise Zones and LAMBRA’s, with the exception of a census tract that is located within one of these zones, but has low unemployment rates and low poverty levels.
The new jobs credit is available for taxable years beginning January 1, 2014.
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