Northern Colorado Enterprise Zone Tax Credits

Posted on Posted in Colorado Tax and Accounting Consultation

Colorado’s Enterprise Zone Program is created to stimulate economic and neighborhood advancement in targeted locations around the state. Personal businesses located within an Enterprise Zone may receive incentives associated with business investment, business expansion, and/or brand-new business relocation. Your Local CPA can help you determine if you can apply for Enterprise zone credits for your business. Additional information is provided below to help you determine your eligibility.

Check out the Colorado Workplace of Economic Advancement & International Trade (OEDIT) site for a detailed list of company tax credits.
Please keep in mind that business must be pre-approved with the State prior to carrying out an activity that will earn them an Enterprise Zone tax credit. Please take a minute to submit your 2014 electronic pre-certification today!

The State of Colorado recently made changes to the Enterprise Zone pre-certification and accreditation website.

Enterprise Zone Pre-Certification and Certification Application Website
We encourage you to review the User Guides prior to going into the Application Portal. The User Guides step you through the application procedures and will reveal you what info you’ll need to finish the applications.
* User Guide – Pre-Certification *.
* User Guide – Accreditation *.

For 2014-2015, there might be considerable changes concerning the Larimer County Enterprise Zone. If you are a Certified Public Accountant, your company has applied for or has actually considered getting, or you just would like to know more about Enterprise Zone Tax Credits, please contact Jacob Castillo, Enterprise Zone Administrator.
For more information about Business Tax Credits, check out these links:

What are the Enterprise Zones in Larimer County?800px-Map_of_Colorado_highlighting_Larimer_County.svg

Larimer County has four subzones:.
Fort Collins.
How do I know if my company address is located in the Enterprise Zone?
To figure out if your business address is located within the Enterprise Zone, use this locator map. Enter your full address in the box. If your address falls within the orange shaded area, you are in the zone. (For an example of exactly what an address in the Enterprise Zone resembles insert: “200 West Oak Street, Fort Collins,” in the box.).
Do I have to do anything special to take the Enterprise Zone Business Tax Credits?
Pre-certification is needed in 2012– If your company will perform an activity on or after January 1, 2012 that may earn an Enterprise Zone business tax credit Pre-certification is required prior to beginning the activity that earns the credit. Click here for details.
What if I finish the Pre-certification and after that choose not to take the tax credits?
Pre-certification does not obligate you to take Enterprise Zone Business Tax Credits. If you make an application for the Pre-certification and do not make use of the tax credits, you do not need to do anything even more.

Contribution Tax Credit.

In addition to tax credits for personal companies, the Enterprise Zone Program encourages contributions to non-profit organizations that serve an Enterprise Zone and the population therein.
Taxpayers who make a financial contribution to an approved Enterprise Zone Project may claim a 25 % state earnings tax credit based upon the value of the contribution (as much as an optimal $100,000 credit.) In-kind contributions might likewise qualify the taxpayer to assert a 12.5 % state income tax credit based on the value of the contribution.
To learn more on Contribution Tax Credits, check out these links:.
Contribution Tax Credit Frequently asked questions.
List of Approved Enterprise Zone Projects.

Non-Profit Organizations.

Are you a non-profit company that lies within the zone and/or services a population within the zone and would like to discover how to end up being a licensed Enterprise Zone project?
Please contact:
James Vaughn
Vaughn CPA, LLC
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