Hiring Tax Credit.   This is a state income tax credit for employers who hire job seekers from targeted groups.  Employers can claim up to $31,000 in tax credits over a five-year period when they hire qualified employees.  Employees must perform at least 50% of their work within the boundaries of the Zone.  Employers must have an EZ Voucher to claim the credit. The target group are those that live within  this Targeted Employment Area list.

Sales and Use Tax Credit.   EZ businesses can reduce taxes by the amount of sales or use tax paid on certain machinery purchased for exclusive use in an EZ.  Up to $8,500 for individuals and $1,700,000 for corporations.

Business Expense Deduction.   Deduct the cost of qualified property purchased for exclusive use in the EZ as a business expense in the first year it is placed in service, with up to $20,000 per year.  Qualified property includes tangible personal property (not real estate) which is used for business purposes and is eligible for depreciation or amortization.

Net Operating Loss Carryover.   Carry over 100% of the business loss from your EZ activity until exhausted or for a period not to exceed 15 years.

Net Interest Deduction for Lenders.   A deduction from income is allowed on the amount of net interest earned on loans made to a trade or business located in an EZ.

Employee Tax Credit.   Employees working for an EZ business are eligible to take advantage of the "Enterprise Zone Employee Credit."  The credit is equal to five percent of an employee's earnings up to a maximum of $10,500 in earnings per year.