What is an enterprise zone tax credit?
Enterprise zones (EZs) are geographic areas in which companies can qualify for a variety of subsidies. EZ subsidies often include a variety of corporate income tax credits, property tax abatements, and other tax exemptions and incentives to encourage businesses to locate in low-income areas of a city or county.
What is the Colorado Enterprise Zone?
The Colorado legislature created the Enterprise Zone (EZ) Program to encourage development in economically distressed areas of the state. The 16 designated enterprise zones have high unemployment rates, low per capita income, or slow population growth.
What are Colorado tax credits?
They are credits that are designed to encourage the renovation and re-use of older buildings. There are 2 types of tax credits available: a 20% – 35% State Income Tax Credit (STC) and a 20% Federal Income Tax Credit.
What is an enterprise zone?
An enterprise zone is a geographic area that has been granted special tax breaks, regulatory exemptions, or other public assistance in order to encourage private economic development and job creation. They are used most often to promote the revitalization of a city neighborhood.
What is Adams County Enterprise Zone?
The Enterprise Zone is a state-funded pro- gram to encourage business development and job growth in economically distressed areas. Adams County Regional Economic Partner- ship (AC-REP) administers the Zone in Adams County.
How do enterprise zones affect the economy Why?
As a policy instrument, enterprise zones are intended to stimulate economic activity in economically distressed areas. Compared with the rest of the state, these areas tend to have higher rates of unemployment, lower incomes, fewer jobs or fewer good paying jobs, and more unused land or blighted structures.
What is the Colorado minimum tax credit?
The Colorado credit is 12% of the federal minimum tax credit claimed on federal Form 8801 (for tax year 2017, the federal minimum tax credit used in calculating the Colorado minimum tax credit appears on line 25 of federal Form 8801).
Does Colorado have a rent credit?
Many Coloradans may be eligible for the Property Tax/Rent/Heat Credit rebate, also known as the “PTC Rebate,” which is available every year. It has been available to Colorado residents since 1971. The actual rebate total is based on the applicant’s income and expenses.