Money you never knew was there.

Throughout California, many business communities are targeted for revitalization. In order to incentivize companies to locate, operate and expand within these designated zones, economic development programs offering tax benefits are created. Surprisingly, approximately 90% of companies located in these development zones do not claim these benefits due to the complexities associated with the programs and tax compliance – or they simply do not know they exist. Our commitment to securing these benefits for our clients creates significant tax refund and savings opportunities.

Tax Credit Programs

California Enterprise Zone Program – The California Enterprise Zone Program offers California income tax credits to companies operating in one or more of the 42 zones statewide for hiring and capital expenditure practices. Companies located in the Enterprise Zone are eligible for up to $37,000 in credit per qualified employee over a five-year period and the opportunity to recover California sales tax on qualified equipment purchases. Banks and other lenders are eligible for a net interest deduction benefit for Enterprise Zone loans.
Federal Work Opportunity Tax Credit (WOTC) Program – The WOTC Program offers Federal income tax credits for qualified new hires. Constant screening is required to meet the complex requirements and time constraints related to this program. Credits are calculated as a percentage of qualified wages earned in the first year of employment. The credit is up to 40% of the first $6,000 in wages earned by a qualified employee. HUD requires all applications be filed within 28 days following commencement of employment and there is no retro-activity through this program.
Federal Empowerment Zone Program – The Federal Empowerment Zone Program offers companies in designated areas up to $3,000 in federal income tax credits per year per qualified hire. There are 22 Empowerment Zones in the United States including four in California alone.
LAMBRA Credits – The Local Military Base Recovery Act established many former
military bases converted to commercial business centers, like Liberty Station in San Diego, to tax incentive zones. Companies in a LAMBRA can earn income tax credits for qualified hires, sales and use credits for equipment purchases, and up-front expensing of certain depreciable property.

Why work with Hughes Marino TCS?

Hughes Marino TCS operates on a performance-based contingency model. If we cannot refund our client taxes from past years or save our client taxes in current and future years, there is no cost to our client and therefore no risk.
We do not compete with accounting representatives or CPAs. Our tax credit studies are conducted in a way that is complimentary to our client’s current accounting representation. We are a valuable resource for many accounting firms and tax preparers.
Hughes Marino TCS defends all associated FTB and IRS tax credit audits free of charge for our clients with our Audit Protection Guarantee.
Our expertise in this niche field has generated tax refunds and savings in excess of $20 million since 2006 for our clients. Paired with our extensive knowledge in real estate, our location based tax credit experience allows us to offer a site selection analysis that is unpaired in the industry.
Our client information remains 100% confidential. We are committed to privacy, confidentiality and security of information for our clients. We provide confidentiality and non-disclosure agreements to all of our clients.

San Diego Regional Enterprise Zone

An Enterprise Zone is a geographically designated area in which businesses can receive substantial state tax breaks and other benefits. San Diego is home to one of 42 Enterprise Zones statewide, incorporating portions of the City of San Diego, significant portions of the City of Chula Vista and the City of National City. Please download the Enterprise Zone map here.