Taxes & Incentives
For Colton businesses, available state and federal incentives can foster faster growth and more rapid return on investment. Connect with the Colton Economic Development team and let us help you identify relevant incentives and assist with the application process. We’re here to help you succeed.
For qualified projects, incentives may include:
This win-win incentive has been cited for its effectiveness in creating business and community prosperity. The credit applies to income tax owed to the Franchise Tax Board; if the credit allowed exceeds the tax due, the excess may be carried over to reduce the tax in the following year.
For qualified projects, manufacturers may receive a partial exemption from sales and use tax on the purchase or lease of qualified machinery and equipment primarily used in the manufacturing process.
For qualifying businesses located in Colton’s designated geographic areas, this strategic tax credit can help defray payroll costs.
This federal hiring incentive provides a tax credit up to $9,600 for hiring individuals from targeted populations, which include veterans. Veterans are a proven workforce asset, and Colton’s more than 2,000 veterans can bring high values and productivity to your operation.
Colton has multiple Federal Opportunity Zones; let Colton’s Economic Development team walk you through their locations and benefits.
o Free training at UC Riverside Extension and San Bernardino Valley College.
o Free human resources assistance through the San Bernardino Valley Workforce Center.
o Training incentives including 50% reimbursement for on-the-job training available from San Bernardino County.
California Competes Tax Credits
This win-win incentive has been cited for its effectiveness in creating business and community prosperity. The credit applies to income tax owed to the Franchise Tax Board; if the credit allowed exceeds the tax due, the excess may be carried over to reduce the tax in the following year.
Sales and Use Tax Exemption for Manufacturing
For qualified projects, manufacturers may receive a partial exemption from sales and use tax on the purchase or lease of qualified machinery and equipment primarily used in the manufacturing process.
New Employment Tax Credit (NEC)
For qualifying businesses located in Colton’s designated geographic areas, this strategic tax credit can help defray payroll costs.
Workforce Opportunity Tax Credit
This federal hiring incentive provides a tax credit up to $9,600 for hiring individuals from targeted populations, which include veterans. Veterans are a proven workforce asset, and Colton’s more than 2,000 veterans can bring high values and productivity to your operation.
Federal Opportunity Zones
Colton has multiple Federal Opportunity Zones; let Colton’s Economic Development team walk you through their locations and benefits.
Workforce Development Assistance for qualified projects:
o Free training at UC Riverside Extension and San Bernardino Valley College.
o Free human resources assistance through the San Bernardino Valley Workforce Center.
o Training incentives including 50% reimbursement for on-the-job training available from San Bernardino County.
