Saturday, June 27, 2009

Tax Credits

To see if your business is located in the Denver-specific tax credit zones, enter the address at Denver Office of Economic Development's Business Summary GIS.

Enterprise Zone (EZ) State Tax Credits
Credits for a variety of activities such as creating new jobs, providing employee healthcare benefits, training employees, research and development, investing in capital, contributing in-kind or financial donations to an EZ certified non-profit , etc.; must be located within an EZ zone. For assistance with Denver's EZ zone, contact Denver's Business Assistance Center (720) 913-1715.

NMTC (New Market Tax Credits)
Use tax credits to raise equity for real estate investment; permits taxpayers to receive a credit against Federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs).



Energy-related tax credits:

  • Tax Deductions for Commercial Buildings: A tax deduction of up to $1.80 per square foot is available to owners or designers of new or existing commercial buildings that save at least 50% of the heating and cooling energy of a building that meets ASHRAE Standard 90.1-2001. Partial deductions of up to $.60 per square foot can be taken for measures affecting any one of three building systems: the building envelope, lighting, or heating and cooling systems. These tax deductions are available for systems “placed in service” from January 1, 2006 through December 31, 2013.
  • Various incentives for R&D, and energy production/conservation provided in H.R. 1424 (such as the Bicycle Commuter tax credit mentioned in U.S. News and World Report's blog.)
  • Federal Tax Credits for Energy Efficiency
  • Other tax credits (including ARRA and energy-related) from IRS information center
Find more tax credit information on my Workforce post

Additional incentives on Metro Denver Economic Development Corporation's MetroDenverGIS