EZ to co-sponsor tax credit workshop for local businesses
The Minneapolis Empowerment Zone (EZ) will co-sponsor a tax credit training session for EZ and local businesses and tax credit professionals working with businesses Monday, March 12, 2007, 6-8 p.m. at Midtown Global Market in Midtown Exchange, 920 E. Lake Street, Suite 107.
The workshop will focus on:
- EZ Employment Credits – up to $3,000 credit against federal tax for each EZ resident hired from 2004 to 2009;
- Welfare to Work Tax Credits - up to $3,500/employee credit in the first year and $5,000 in the second year for individuals who have received welfare in nine of the previous 18 months prior to hiring. The business does not have to be located in an Empowerment Zone. The credit is available in 2007; and
- Work Opportunity Tax Credits - up to $2,400 tax credit per employee. Target groups include EZ youth (ages 16-25) and others (TANF recipients, veterans, ex-felons, vocational rehabilitation referrals, summer youth employees, or food stamp or supplemental security income recipients). The business does not have to be located in an Empowerment Zone. The credit is available in 2007.
There is no charge to attend the workshop. For more information or to register, contact Rob Smolund, Minneapolis Consortium of Community Developers, 612-789-7337 x11; Joyce Wisdom, Lake St Council, 612-822-0232; or Narin Sihavong, Empowerment Zone, (612) 673-5021.
The Minneapolis EZ is one of 15 urban zones designated in 1999 by the U.S. Department of Housing and Urban Development (HUD). Its mission is to support the creation of healthy and sustainable communities through economic development and Community based services.
Other workshop sponsors include the Internal Revenue Service, the Department of Employment and Economic Development, Lake Street Council, the Minneapolis Consortium of Community Developers, the Minneapolis Empowerment Zone, the Neighborhood Development Center, US Bank, and Women Venture.
February 21, 2007
Published Feb. 21, 2007