Tax Candi

I moved north to get away from the heat, but I completely forgot about the humidity factor. I can't imagine living in a state as warm as Arizona, but my family in Phoenix tells me it's bearable because it's a "dry heat." Who knows, but for those of you who like living close to the sun, I bring you...

Arizona's Enterprise Zone Program

The Enterprise Zone (EZ) Program encourages the creation of quality jobs and capital investment in distressed areas of the state. Corporations located in designated EZ may take a credit against their income tax for creating new jobs. Employers receive up to $3,000 of credit over a three-year period for each qualifying job. Businesses can claim up to 200 qualifying employees.

Let's run through the math.

$3,000 x 200 = $600,000.

The current program is authorized through June 30, 2011 and the credits have a 5-year carry forward.

Businesses located within an EZ are also eligible for property tax abatements up to 60%.

Interested businesses should contact the Arizona Department of Commerce or the specific EZ coordinator.