This could be your lucky day. There could be some good news waiting for you. There are tax credits available that you may not even realize. Is your business in one of the Empowerment Zones established by the government over 20+ years ago? Take a look below.
Empowerment Zone Employment Credit
What Is The Empowerment Zone Employment Credit?
The federal government provides a generous tax credit called the Empowerment Zone Employment Credit (EZEC). It is available only to companies with worksites in a federally designated Empowerment Zone who hire a portion of their workforce from one of these designated zones.
Why Did The Government Create These Credits?
These credits were created to encourage employers to locate their business in a Federal Empowerment Zone and hire/retain residents of that zone. These programs are intended to help improve the community and its residents by bringing commerce and an increased tax base to these areas.
How Much Of A Credit Is It?
The credit can amount to $3,000 per zone-resident-employee per year (20% of the first $15,000 of income). Qualifying employees must work a minimum of 90 days.
Which Of My Employees Qualify?
Employees currently on staff qualify and are retroactive for three years. Employees who are no longer with your company may generate a credit if they meet the residence and 90-day tenure requirements of the credit.
Where Are These Empowerment Zones?
If your community is on this list, this could be very good news for your business. Have a live conversation with an expert at R. Jeffrey Tax Credits to know for sure if your business qualifies. Our promise is to have you understand how much credit it can be and how we help you get it.
Arizona
Pulaski County
Tucson
California
Desert Communities
Fresno
Los Angeles
Santa Ana
Connecticut
New Haven
Florida
Jacksonville
Miami/Dade County
Georgia
Southwest Georgia United
Illinois
Chicago
Southernmost Illinois Delta
Indiana
Gary/East Chicago
Kentucky
Kentucky Highlands
Maine
Aroostook County
Maryland
Baltimore
Massachusetts
Boston
Michigan
Detroit
Minnesota
Minneapolis
Mississippi
Mid-Delta
Missouri
St. Louis/E. St. Louis
New Jersey
Cumberland County
New York
New York City
Syracuse
Yonkers
North Dakota
Griggs-Steele
Ohio
Cincinnati
Cleveland
Columbus
Ironton/Huntington, W.V.
Oklahoma
Oklahoma City
Pennsylvania
Philadelphia/Camden, NJ
Carolina
Columbia/Sumter
Dakota
Oglala Sioux Tribe
Tennessee
Knoxville
Texas
El Paso
Rio Grande Valley
San Antonio
Virginia
Norfolk/Portsmouth
What's The Next Step?
If your community is on this list, this could be very good news for your business. Have a live conversation with an expert at R. Jeffrey Tax Credits to see if you qualify. Our goal is to have you understand how EZEC works and give you a better idea of how much it can be.
Please call us at 847-813-6622. We look forward to speaking with you.