ZSA Special Report – California Enterprise Zone – Deadline 12/31/13

From the Desk of Michael Zaldivar, CPA, CMI ~ Due to recent legislation, the 42 California Enterprise Zones (Old or current EZ) will be repealed as of December 31, 2013.  The replacement tax incentives known as the New Enterprise Zone Continue reading ZSA Special Report – California Enterprise Zone – Deadline 12/31/13

Texas – New Definitions

SALT Report 2982 – In the latest edition of Tax Policy News, the Texas Comptroller discusses recent changes to state tax laws that created or amended the definitions of the following items. Intravenous (IV) Systems House Bill 3169 amends Tax Continue reading Texas – New Definitions

Illinois – Enterprise Zone Emergency Regulations

SALT Report 2893 – The Illinois Department of Commerce and Economic Opportunity has repealed, reenacted, and amended the emergency regulation governing the enterprise zone tax credits that are available for corporate and personal income tax, sales and use tax, and Continue reading Illinois – Enterprise Zone Emergency Regulations

California – Economic Development Bill Sent to Governor

SALT Report 2670 – The California General Assembly has approved recent Senate amendments to a bill that, if enacted, will create a sales and use tax exemption for purchases of manufacturing and bio-tech equipment, and research and development equipment.  The Continue reading California – Economic Development Bill Sent to Governor

Illinois – New Building Materials Exemption Certification Process

SALT Report 2611 – The Illinois Department of Revenue issued a reminder regarding changes in the application process for obtaining a sales tax exemption certificate for building materials. Beginning July 1, 2013, the building materials exemption will only be available Continue reading Illinois – New Building Materials Exemption Certification Process

Colorado – Updated Guidance Regarding Enterprise Zone Tax Credits

SALT Report 2481 – The Colorado Department of Revenue has updated its guidance regarding the corporate and sales and use tax incentives related to enterprise zones. An enterprise zone is an economically distressed area of Colorado that offers special tax Continue reading Colorado – Updated Guidance Regarding Enterprise Zone Tax Credits

Illinois – Enterprise Zone Building Materials Exemption

SALT Report 2345 – The Illinois Department of Revenue issued a general information letter that discusses the enterprise zone sales and use tax exemption. Under the Illinois Enterprise Zone Act businesses can deduct the gross receipts from qualified retail sales of Continue reading Illinois – Enterprise Zone Building Materials Exemption

Illinois – New Reporting Requirements for Businesses in Enterprise Zones

3/4/2013 SALT Report 2217 – The Illinois Department of Revenue issued an information bulletin that discusses the new reporting requirements for taxpayers that receive income tax, utility tax, sales tax, property tax, gas tax, electricity excise ta… Continue reading Illinois – New Reporting Requirements for Businesses in Enterprise Zones

Colorado – Enterprise Zone Tax Incentives

SALT Report 1282 – The Colorado Department of Revenue has updated its guidance regarding corporate income tax credits and sales and use tax incentives relating to enterprise zones. An enterprise zone is an economically distressed area of Colorado … Continue reading Colorado – Enterprise Zone Tax Incentives