SALT Report 3279 – As a result of the enactment of AB 93 and SB 90 a new collection of tax credits and exemptions have been or are to be enacted. A familiar incentive included within the scope of this legislation is the new hiring credit. Along with multiple changes from the old hiring credit that expired at on 12/31/13 this new credit includes a rezoned qualifying area “Designated Census Tracts” or “Economic Development Areas”. The application process must be completed timely and the credit must be claimed on an original return. This map provides taxpayers with general idea of qualification based on the zones released by the Department of Finance on 12/12/13.
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