Colorado Enterprise Zone Pre-Certification Takes Effect January 1, 2012
Colorado passed Senate Bill 10-162, along with several other bills resulting in significant
changes to Enterprise Zone Tax Credits and the process by which Enterprise Zone tax
forms are certified, including the pre-certification of credits, electronic certification
process, electronic notification and electronic filing. Senate Bill 10-162 establishes
a requirement that businesses receive pre-certification each year prior to earning
Enterprise Zone business tax credits. This requirement will take effect for
credits that will be earned on or after January 1, 2012. Pre-certification is
needed for the investment tax credit, commercial vehicle investment tax credit, new
business facility jobs credits, research and development credit, qualified job training
credit, and the rehabilitation of vacant commercial buildings credit.
If your business anticipates taking advantage of the Enterprise Zone business tax
credits for 2012, a pre-certification will be needed for each Enterprise Zone location
prior to earning the credit. Business activities cannot take place prior to
receiving pre-certification to be eligible for an Enterprise Zone tax credit earned.
The information provided is intended to update your company on new program requirements
for the Colorado Enterprise Zone regarding per-certification to insure no Enterprise
Zone tax benefits are lost. TALX can assist your business in submitting the
appropriate forms to receive pre-certification and receive the credits earned.
This weblog is sponsored by TALX.