Budget proposal and other changes impact California's Enterprise Zone program

myStateTaxOffice

On January 10, 2013, California Governor Jerry Brown released his proposed 2013-2014 Budget Summary. The budget includes savings from "Enterprise Zone Regulatory Reform." One key change is that applications to document eligibility of new hires would have to be made within one year of the date of hire. This is a significant change since currently employees can be documented as long as the statute of limitations is open for income tax purposes. The language in the Budget Summary indicates that the new regulations could become effective soon.



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