Did your business become inoperable after sustaining damage from a hurricane, wildfire, or other qualified disaster? If so, you may be entitled to a tax credit.
Your business may qualify for a disaster relief tax credit if it meets the following criteria:
Here are a few qualified disasters for which the credit is available and a reference list of US regions with designated disaster zones:
Following is a reference list of US regions with designated disaster zones:
Beginning September 13, 2018, businesses operating in the following counties in Carolina and Virginia are eligible to receive the credit.
Allegany, Alamance, Anson, Ashe, Beaufort, Bertie, Bladen, Brunswick, Cabarrus, Carteret, Chatham, Columbus, Craven, Cumberland, Dare, Davidson, Duplin, Durham, Granville, Greene, Guilford, Harnett, Hoke, Hyde, Johnston, Jones, Lee, Lenoir, Madison, McDowell, Montgomery, Moore, New Hanover, Onslow, Orange, Pamlico, Pender, Person, Pitt, Polk, Randolph, Richmond, Robeson, Rowan, Sampson, Scotland, Stanly, Tyrrell, Union, Wayne, Wilson, and Yancey
Berkeley, Calhoun, Charleston, Chesterfield, Clarendon, Colleton, Darlington, Dillon, Dorchester, Florence, Georgetown, Horry, Jasper, Lancaster, Marion, Marlboro, Orangeburg, Sumter, and Williamsburg
Botetourt, Charles City, Chesterfield, Craig, Floyd, Franklin, Grayson, Halifax, Henry, Isle of Wight, King and Queen, King William, Lancaster, Lunenburg, Mathews, Mecklenburg, Nelson, Northumberland, Nottoway, Patrick, Pittsylvania, Pulaski, Russell and Roanoke Counties and the Independent Cities of Bristol, Danville, Franklin, Hampton, Martinsville, Newport News, Richmond, and Williamsburg
As of October 7, 2018, businesses operating in the following counties in Alabama, Florida, and Georgia are eligible to receive the credit.
Geneva, Henry, Houston, and Mobile
Bay, Calhoun, Franklin, Gadsden, Gulf, Hamilton, Holmes, Jackson, Jefferson, Leon, Liberty, Madison, Okaloosa, Suwannee, Taylor, Wakulla, Walton, and Washington
Appling, Atkinson, Bacon, Baker, Ben Hill, Berrien, Bleckley, Brooks, Bulloch, Burke, Calhoun, Candler, Chattahoochee, Clay, Coffee, Colquitt, Cook, Crawford, Crisp, Decatur, Dodge, Dooly, Dougherty, Early, Echols, Emanuel, Evans, Glascock, Grady, Hancock, Houston, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Jones, Laurens, Lee, Macon, Marion, Miller, Mitchell, Montgomery, Peach, Pulaski, Putnam, Quitman, Randolph, Schley, Screven, Seminole, Stewart, Sumter, Tattnall, Telfair, Terrell, Thomas, Tift, Toombs, Treutlen, Turner, Twiggs, Washington, Webster, Wheeler, Wilcox, Wilkinson, and Worth
Beginning July 23, 2018, businesses operating in the following counties in California are eligible to receive the credit.
Butte, Lake, Los Angeles, Shasta, Ventura
There are no filing requirements for the credit, but businesses must meet the above criteria and maintain proof that the employees performed substantially all of their duties at the location up to the day the location became inoperable.
If your business is located in a designated disaster zone, we can help you determine your eligibility, claim the credit, and locate other federal and state hiring and wage-based credits.
To start, we’ll work with you to determine if your business qualifies. We’ll then do the following:
In addition to calculating the disaster credit, MaxCredits has a web-based platform that can determine if your business qualifies for other federal hiring credits, including:
For more information, contact a Moss Adams professional.
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