Money If You Start A Business In A Certain Zip Code

Connecticut will give your business a grant of up to $2,250 per employee if your business is in certain enterprise zones. Plus, you pay only 50% in corporate taxes and only 20% in property taxes. Locating your business in certain areas of Chicago will get you an exception of income taxes on money made from the area, low interest rate loans, and a big break on your sales and property taxes. The federal government has designated over 100 areas around the country as enterprise areas and offers special low interest loans, $3,000 tax credit for every employee you have, and an extra $20,000 tax deduction for capital investments, as well as a boat load of other services and money incentives. Enterprise zones, also called empowerment zones, have been established in order to generate jobs and economic development in certain rural and urban areas around the country. Contact your state Office of Economic Development listed in the blue pages of your phone book to identify the zones in your area; or contact U.S. Department of Housing and Urban Development, 451 7 St., SW, Washington, DC 20410; 202-708-1577; {www.hud.gov/ezeclist.html}.

Leave a Reply

Your email address will not be published. Required fields are marked *