Empowerment Zone Credit

Is your business eligible for federal tax credits based solely on where your business is located and where your employees live?

The Federal Empowerment Zone Tax Credit gives businesses tax credits based simply on their geography!

Created in 1993 by Congress with The Empowerment Zones and Enterprise Communities Act, Empowerment Zones (EZs) are economically distressed communities that also meet development potential criteria. To spur the development of these communities, the government gives companies located in the zones powerful tax credits to grow their workforces, improve their bottom lines, and help strengthen their communities.

The Empowerment Zone Tax Credit is one of these credits. If your business is located within the border of an Empowerment Zone and hires people who also live in the zone, your business gets a tax credit of 20% of the first $15,000 you pay them each year. Yes – you read that right – this credit renews each year. So that’s a possible $3,000 in credits for every eligible employee each year. Use this money to invest in your business, hire more people, and grow!

Want more? The best part about this credit is that it is also retroactive, meaning you can go back and look at the last 3 years of payroll for credits. This could mean tax refunds now and cash for your business.

We have been in the tax credit business for nearly as long as this credit has been around, helping our clients understand, secure, track, and file for the EZ credit. We would love to help your business secure these powerful tax credits and help your business, your employees, and your community grow.

To find out more about this and the other credits we manage for our clients, schedule your free consultation now!