San Francisco Enterprise Zone

The San Francisco Enterprise Zone has been in use for decades now. Currently, the San Francisco Enterprise Zone is one of California’s largest “single city” Enterprise Zones. Beginning near Fort Mason, the new zone stretches all the way down the bay to Candlestick Park and includes most of downtown San Francisco. The San Francisco Enterprise Zone program is designed to attract and retain businesses in the city of San Francisco as well as promote local job growth.

San Francisco Enterprise Zone’s benefits are many. Perhaps the most lucrative of these benefits is a hiring tax credit worth up to $37,440 per qualified employee. Any employee can qualify for this credit in one of many ways regardless of where they live. In other words, employees do NOT have to live in the city of San Francisco in order to qualify for this San Francisco Enterprise Zone tax credit. Terminated employees may also qualify for credit. In addition to the hiring tax credit, businesses located in the San Francisco Enterprise Zone may also claim sales tax paid on technology investments and manufacturing equipment as credit. Both the hiring credit and sales and use credit can be used to recover any income tax paid in the last 4 years. Going forward these San Francisco Enterprise Zone tax credits can be used to offset future state income tax liability, both corporately and on an individual shareholder(s) basis.

San Francisco Enterprise Zone management is currently involved in an informative marketing campaign designed to educate CPA’s and tax preparers about the lucrative San Francisco Enterprise Zone tax credits. These San Francisco Enterprise Zone workshops are targeting businesses and CPA’s in the Mission district. However, San Francisco’s Financial District is also located in the new San Francisco Enterprise Zone. All businesses located in the San Francisco Enterprise Zone are free to participate in the program.

The San Francisco Enterprise Zone program requires specialization in order to maximize available credit benefit. CLC Tax Credits is a contingency service that delivers cash in hand. We manage San Francisco Enterprise Zone programs for businesses and tax preparers alike. Even if a business is currently utilizing the San Francisco Enterprise Zone program, CLC Tax Credits can significantly increase available credit and in most cases recover and eliminate any existing state income tax liability.