The City of Long Beach offers an urban Enterprise Zone of over 41.4 square miles, encompassing thousands of businesses. No matter if your business is manufacturing or retail, large or small, the Enterprise Zone provides State tax credits that can enhance your business. Purpose: To provide targeted areas with a means to stimulate business and employment growth. Duration: 15 years, January 8, 2007 - January 7, 2022 Size: 41.1 square miles, 10,000+ businesses Area: Includes most of the city's commercial and retail corridors and manufacturing centers. Eligibility: Any individual or company operating a trade or business within the Enterprise Zone is eligible for the program. Benefits: Companies located within the Enterprise Zone can save thousands of dollars on their business' California income taxes. For more information on the Enterprise Zone contact, Craig Johnson, Enterprise Zone Manager (562) 570-3842

City of Long Beach
Business Development Center
110 Pine Ave., Suite 1100
Long Beach, CA  90802
Attn: Karla Olivas

Enterprise Zone Income Verification Worksheet

Enterprise Zone Support Document Guidelines for Employee Eligibility

Enterprise Zone Targeted Employment Area (TEA) Acceptable Documents Showing Proof of Residency

EZ Business Location Address Range 01-08-2007 to 01-07-2022

EZ Business Location Address Range for Expired EZ 01-08-1992 to 01-07-2007

Enterprise Zone Targeted Employment Area (TEA) Address Range as of January 8, 2007

Enterprise Zone Targeted Employment Area Address Range Prior to January 8, 2007

Explanation of Hiring Tax Credit

FTB 3805Z EZ Business Booklet 2008

Hiring Credit A Qualified business may reduce its state income tax by a percentage of wages paid to one or more qualified employees over a five-year period. Over $37,400 in tax credits is available per qualified employee. The credits may be carried over until they are exhausted. Sales and Use Tax Credit California income of franchise tax may be reduced by the amount of sales or use tax paid on the cost of qualified equipment or machinery parts purchased for exclusive use in the Enterprise Zone. The credits may be carried over until they are exhausted. Business Expense Deduction Part of the cost of certain property, furniture and fixtures purchased for exclusive use in the Enterprise Zone may be deducted as a business expense in the first year it is placed in service. Net Operating Loss Carryover Up to 100% Net Operating Loss Carryover (NOL) for individuals or corporations doing business in the Enterprise Zone. NOL may be carried over for up to 15 years. Lenders may deduct net interest earned on loans to Enterprise Zone businesses. Enterprise Zone companies can earn preference points on State contracts.

For more information on the Long Beach Enterprise Zone, contact:

Craig Johnson, Enterprise Zone Manager
(562) 570-3842
craig_johnson@longbeach.gov
www.lbbusiness.com/enterprise_zone.htm