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Enterprise Zone Deduction and Credit

October 10, 2016 • Rusty • Log In to Post Comments

~~In regards to a Enterprise Zone Deduction and Credit, in 2006 taxpayer had a Los Angeles-Mid-Alameda Corridor hiring credit and carryforward. In 2008 taxpayer moved the business out of the Enterprise Zone to South Gate and didn’t have a California tax liability until 2015. He was wondering if he could use the EZ credit to reduce the tax liability.  He earned no 2015 trade or business income within the EZ. It is all earned in South Gate. Does this preclude him from the carryforward due to Form 3805Z Schedule Z credit limitations?

 


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He can only use the credit for income earned in the zone.

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