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Any businesses located in the Enterprise Zone are eligible for the $3,000 per employee wage credit. An "enterprise zone business" is defined as a proprietorship, partnership or corporation that meets the following conditions:

(1) the sole trade or business of the corporation or partnership is the active conduct of a qualified business within an empowerment zone or enterprise community;

(2) a certain percentage of the total gross income is derived from the active conduct of a "qualified business" within a zone or community;

(3) a certain percentage of the business's tangible property is used within a zone or community;

(4) a certain percentage of the business's intangible property is used in, and exclusively related to, the active conduct of such business;

(5) a certain percentage of the services performed by employees are performed within a zone or community;

(6) a certain percentage of the employees are residents of the zone or community; and

(7) a certain percentage of the average of the aggregate unadjusted bases of the property owned by the business is attributable to (a) certain financial property, or (b) collectibles not held primarily for sale to customers in the ordinary course of an active trade or business."

Call us at 866-867-3795. Ask for the D.C. Investment and Tax Report. We appreciate your interest and your business. To receive a copy of the report, order the report here.

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Qualified Zone Businesses

Qualified Zone Property

First posted on 10/12/1997 by Creative Investment Research, Inc.

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