Recent Changes to Colorado Enterprise Zone Rules Could Be a Great Tax Saver for Your Business

Enterprise Zones are economically distressed areas designated by the state, and businesses willing to move, expand, invest, hire, and train within these zones can qualify for some potentially lucrative tax incentives.

While these incentives have been available since 1986, changes that went into effect in 2014 have expanded many and made others easier to qualify for. For example, previously the credit for hiring additional employees was $500 per employee. Now the credit is $1,100 and the definition of a qualifying facility has been simplified.

While Boulder and Longmont aren’t located in enterprise zones, much of the more rural counties of Colorado are, as well as certain sections of Berthoud, Loveland, Fort Collins, Greeley, and other cities in the north.

Don’t leave free money on the table – make sure to talk to a qualified CPA that can help you apply and claim these credits as part of your tax saving strategy!

Mark E. Lumsden, CPA
Senior Tax Manager
mlumsden@acmllp.com
970.352.1700

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