rancho-cordova-enterprise-zone-tax-credits-rex-halverson

California’s Enterprise Zone program was established in 1984 to create jobs and stimulate business. Rancho Cordova has recently been awarded Enterprise Zone status and the business community is sure to prosper from the legislation. Because the State allows businesses located in Enterprise Zones to take special tax credits, many business owners choose to hire a professional to identify, research and document the appropriate credits.

Rex Halverson of Rex Halverson and Associates, provides state and local tax advocacy and consulting. Halverson is a tax attorney with over 31 years of experience in his field. He has successfully assisted eleven cities and counties of the forty-two current Enterprise Zones with their applications and has worked closely with the cities and counties who are now enjoying the benefits of Enterprise Zone status. Currently, he is working with local businesses to profit from the Enterprise Zone awarding.

Because of the recent award of Enterprise Zone status to Rancho Cordova, many local businesses will be able to take advantage of the credits available only to Enterprise Zone businesses, including a sales and use tax credit of 8.75% and a hiring credit of $37,440 per employee. Sales and use credits are vital for businesses that foresee the purchase of any kind of equipment that will be used in the Enterprise Zone, such as computers, fax machines, copiers, telephone systems or manufacturing equipment. Hiring credits are also critical and are the most generous credits offered by a state in the entire country.

There are fourteen ways for employees to qualify for the hiring credits, and the business owner can see huge financial benefits. Halverson is adamant that local businesses will profit from the new Enterprise Zone status. To local business owners, he says, “You’re in an Enterprise Zone now and you need to take advantage of these credits”.

Rex Halverson is familiar with Rancho Cordova, having been the Senior Class President when he attended Cordova High and he has a special understanding of the community and small business. His passion for business and job development is evident through his impressive and diverse background. He spent seven years in a Big Four CPA firm and served as an advisor to Governor Schwarzenegger’s tax team. Halverson also served from 1995 through 1998 as the California Deputy State Controller, Taxation.

For more information about Rex Halverson or Rex Halverson and Associates, you may call 444-0015. You can also see Mr. Halverson on Friday, October 6 at the Rancho Cordova Economic Forum held at City Hall where he will be a member of the panel that will discuss the Rancho Cordova Enterprise Zone.