ADVOCACY, EDUCATION AND TRAINING
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advocacy, professional development and public education. In support
of its members it responds to legislative proposals and administrative
regulations.
For further information, contact us www.calredevelop.org or at 916-448-8760
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CALIFORNIA BUSINESS MINUTE
Rural Support
02-02-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
New congressional legislation has been introduced to support the growth of micro-
business in rural communities.
California Representative Wally Herger (R) and Representative Ron Kind (D-WI) have
introduced legislation entitled the Rural Micro Business Investment Credit Act
(HR 5990) It is the first federal tax credit designed to meet the needs of small
businesses in rural areas. It would provide a 35-percent tax credit up to $10,000
to start or expand owner-operated businesses with five or fewer employees.
During the 2000 to 2003 recession, micro-enterprise employment in California grew
by 9-percent. The rural micro tax credit is tailor made to encourage micro-enterprise
investment during recession. Qualifying businesses could receive refunds on prior year
returns if they are not making enough in the current year to owe taxes, which is
critical during tough times or during startup when most are lucky to break even.
A refund of prior years'
For further information see: http://thomas.loc.gov/cgi-bin/bdquery/z?d111:h.r.05990:
I am Tim Johnson and this has been the California Business Minute.
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INSIDE CALIFORNIA'S ECONOMY
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