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For a succinct overview, see these links for California and Los Angeles. The state has a Use Tax Rebate, and the city has an additional rebate that builds off of the state program. Equipment purchasesĪre you buying significant equipment, or have you already done so? The city can help you get a tax credit for these purchases. Promise Zones : A collaboration of public, private, and nonprofit agencies to focus resources towards creating jobs, increasing safety, improving education, and expanding housing opportunities in underserved areas. New Market Tax Credit : Incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities. Investors can defer taxes on capital gains income until 2026 if 90% of their investment remains in low-income communities designated as “ Opportunity Zones.

Qualified employers who have a net increase in the number of employees in California and hire employees in areas formerly designated as Enterprise Zones may be eligible for the New Employment Credit.

Note that Federal Empowerment Zones and State Enterprise Zones are no longer operative programs, but several others exist, as explained below. Significant tax benefits are available if you locate your business and make investments in certain communities. Have you developed a new product, or made innovative improvements to an existing product, within the last 10 years? Most manufacturers can take advantage of the state-level R&D Tax Credit tax incentive, but don’t realize they qualify. The Small Business Tax Exemption supports registered small businesses whose taxable and nontaxable gross receipts do not exceed $100,000, and that file annual renewals on time (February 28). (See the bottom of the page.) Email or call 91. Tax credit agreements will be negotiated by the state, but the Los Angeles mayor’s office can help you navigate this process. Moving to California or growing your operations? The California Competes income tax credit is available to businesses that come to the Golden State or stay and grow here. Small businesses that are starting or expanding their exporting can apply for export credit insurance through EXIM Bank of the United States. Through the Industrial Development Authority, the city can provide Industrial Development Bonds, as well as small business loans and HUD-backed large project financing, for site investments at roughly 20–30% below regular interest rates. Visit “Savings by Design” for more information or call 86. Non-residential new construction in Los Angeles may be eligible for incentives if the project exceeds current building codes and standards and does not have duplicate funding from multiple utility-sponsored energy-efficiency programs for the same measures. For smaller projects, they’ll help make connections to ensure your project is on time and the city services departments can fit your needs.
#Ontime financing pacoima code
What’s the total investment your company plans to put into your site? If it’s more than $5 million, the mayor’s office can facilitate planning and permitting through its Case Management Program to ensure that you’re meeting code compliance, and that your design and permitting processes are expedient. Just enter your property requirements, and you can compare sites and types of land across LA neighborhoods.

LocateLA helps you easily navigate your site selection process by identifying properties and communities that fit your business needs-whether you’re commercial, retail, or industrial. Explore a rich library of content and resources to help you manage and grow your business.
#Ontime financing pacoima how to
Try the Startup Guide to quickly map out how to register your new business and be compliant.
#Ontime financing pacoima registration
The LA Business Portal gives you all the information you need to plan, start, manage, and grow your business, allowing you to navigate the licensing and registration process in under 24 hours.

Just enter your address and let the algorithm do the rest. The Los Angeles Works Incentives Finder provides a customized list of incentives for which your business might qualify. Here’s a video where you can watch experts discussing these programs and others at WESTEC 2017. We’ve compiled some great local, state, and federal resources that could help your business.
