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Julie West, CPA
Corporate Tax Chair
Life Science Industry Group Co-leader

Overview

Enterprise Zone Program

The California Technology, Trade, and Commerce Agency developed the Enterprise Zone (EZ) program in 1984 to stimulate business growth and increase job opportunities within economically depressed areas of California. By relaxing regulatory controls within these depressed areas, or "Enterprise Zones," the EZ program offers several key tax incentives for taxpayers operating a trade or business within an Enterprise Zone, including:

  • Hiring Credit
  • Sales or Use Tax Credit
  • Business Expense Deduction
  • Net Interest Deduction
  • Net Operating Loss (NOL) Deduction

The Enterprise Zone program can create significant tax benefits for both companies and employees working in such areas, but understanding the full breadth of its possibilities can be overwhelming. BPM's tax experts have guided Enterprise Zone companies through the program for more than two decades. We will examine your business to identify which tax incentives you qualify for, then work diligently with you to ensure you're making the most out of what the program has to offer.

R&D Tax Credit

Created in 1981, the Research and Development Tax Credit was proposed to foster innovation within companies and induce economic growth at both the state and national levels. Many companies have not taken advantage of the R&D Tax Credit because of insufficient time and expertise to fully understand the requirement. However, this credit can be very beneficial, as it is designed to mitigate research and development costs for companies that create or improve products or processes.

Tech companies, software developers, software-as-a-service companies, and cloud-based technology companies are key beneficiaries of the R&D Tax Credit. This credit is not limited, however, to large companies with extensive R&D efforts; small businesses and start-ups can also benefit from the R&D Tax Credit. Moreover, this credit makes mergers and acquisitions more attractive because it can be transferred over to new ownership.

Identifying your company's qualified research expenses and determining the amount of your R&D tax credit can be a complicated process. BPM's tax experts have helped public and private companies conduct thorough R&D analyses to guide them through this process. We initially examine a business's R&D process as well as products in its pipeline in order to identify all opportunities in which the R&D tax credit applies. We can assist your company in documenting your R&D activities and improve your accounting systems so that your financial statements are sound and secure.

BPM tax professionals will gladly release you from the complicated task of identifying and calculating your R&D tax credit and provide you with sophisticated business consultation to help you determine the best use of your credit, allowing you to grow your company through further research and development.

Contact

Julie West, CPA
Corporate Tax Chair
Life Science Industry Group Co-leader