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What tax benefits are available for businesses operating in the Empowerment Zone?

April 26, 2017Benefits businesses Empowerment operating tax zone

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What tax benefits are available for businesses operating in the Empowerment Zone?

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Three different federal and state tax benefits are available. The federal government offers tax credits for up to 20% of $15,000 in wages per qualifying employee who resides in the EZ. Increased federal tax deduction for depreciable property. A new category of federal tax-exempt private activity bonds is also available for financing purchases of business property and land.