Data & Collection
EZ Certification verifies that a business location or address provided by the taxpayer is within the EZ boundaries. Taxpayers attest that the information provided in the certification application is accurate. Data reported by OEDIT is based on this taxpayer provided information.
Credits certified may be presented to the Colorado Department of Revenue (DOR) – OEDIT does not have details on tax credits claimed. Claimed tax credits will impact state revenue. Historically, about 40-60 percent of certified tax credits are claimed by taxpayers on their state income taxes. The DOR reports aggregate credits claimed by type.
The Enterprise Zone program encourages business to locate and expand within economically distressed areas. Each EZ incentive is tied to a specific business expansion activity; tax credits ares earned after the activity takes place, including: business personal property investment, providing job training , and creating net new jobs. These activities benefit the local economy with increased activity and they also result in additional tax revenues for local governments and the state.
Return on Investment
Each EZ tax credit is tied to a certain desired activity that has to be achieved before the tax credit can be earned. Each EZ business tax credit has a built in ROI.
EZ Annual Reports & Resources
The program annual reports cover the State’s fiscal year (July 1st through June 30th).
The local zone administrator reports offer narratives about the economic conditions and goals for each administrative area and cover the calendar year.
These reports provide details on each tax credit certified in compliance with program statutory reporting requirements and transparency goals.