WHAT IS A COLORADO STATE ENTERPRISE ZONE?
An enterprise zone is an economically distressed area of Colorado where state tax credits are offered to businesses that expand or locate in the zone. The purpose of the incentives is to create new jobs and investments in the zone.
The enterprise zone program was created by the Colorado legislature as of July 1, 1986, and the Colorado Department of Local Affairs has designated 16 areas as Colorado enterprise zones.
UA EZONE AREAS OF INCLUSION
Specific locations within Chaffee, Custer, Fremont and Lake Counties are in the Upper Arkansas Enterprise Zone. (UAEZ)
With the exception of the residentially zoned areas of the incorporated municipalities, the remaining lands of the municipalities and county are in the UAEZ. Inquire with the local municipal zoning offices as to the existing land use zoning in your area to determine location within the UAEZ. When inquiring, please provide the physical address of the business.
WHAT ARE THE TAX INCENTIVES/CREDITS AVAILABLE IN THE ENTERPRISE ZONES?
Colorado enterprise zones provide state tax incentives to businesses located in the zone, particularly for new or expanding businesses.
Not all businesses qualify for all the tax incentives. Refer to the individual FYI publications. The tax credits are:
1. Investment Tax Credit for businesses located in a Colorado enterprise zone. See FYI Income 11 for more information on this credit. The credit used most often.
2. New Business Facility Jobs Credits. Credits are available for new or expanded business facilities located in an enterprise zone that create new jobs. See FYI Income 10 for more information about these credits.
3. State Sales and Use Tax Exemption for Manufacturing and Mining Equipment used in an enterprise zone. This exemption is for equipment used directly in the manufacturing or mining (including oil and gas) process. It applies to state sales and use tax and some state-collected local sales tax. See FYI Sales 10 for more information on the manufacturing equipment exemption and FYI Sales 69 for more information on the mining equipment exemption.
4. Research and Development Tax Credit for research and development carried on in an enterprise zone. For tax years beginning on or after Jan. 1, 1989. See FYI Income 22 for more information about this credit.
5. Tax Credit for Private Contributions to Enterprise Zone Administrators. For tax years beginning on or after Jan. 1, 1989. See FYI Income 23 for more information about this credit.
6. Tax Credit for the Rehabilitation of Vacant Commercial Buildings located in an enterprise zone. For tax years beginning on or after Jan. 1, 1989. See FYI Income 24 for more information about this credit.
7. Qualified Job Training Program Investment Credit for taxpayers who invest in a training program. See FYI Income 31 for more information about this credit.
WHAT IS THE PROCESS?
PRE-CERTIFICATION is required of all enterprise zone businesses each year prior to engaging in an activity for which they intend to earn a credit: starting January 1, 2012.
PRE-CERTIFICATION, CERTIFICATION and all necessary information is located at:
ELECTRONIC FILING (ONLY) REQUIREMENT began September 1, 2012 in the Upper Arkansas E Zone. No faxed, emailed or mailed-paper cerftifications will be accepted.
WHO IS THE UPPER ARKANSAS ENTERPRISE ZONE ADMINISTRATOR?
The Upper Arkansas Area Council of Governments Buena Vista Office administers the Zone and Jeff Ollinger is the Administrator: phone: 719-395-2602 or email: firstname.lastname@example.org