VAN NUYS : Riot-Related Tax Breaks to Be Outlined
The riots of 1992 may be long over, but it’s not too late for businesses in areas that were damaged during the unrest to apply for tax relief.
State tax information for businesses in the part of Van Nuys targeted for riot relief will be presented at a meeting of the Sepulveda Boulevard Business Watch today.
Many business owners are unaware that they are eligible for benefits, said Nancy Kuebel, a senior management analyst with the Los Angeles Community Development Department.
Kuebel said the area bounded by Victory Boulevard on the south, Devonshire Boulevard on the north, Balboa Boulevard on the west and Sepulveda Boulevard on the east is part of the Los Angeles Revitalization Zone. Businesses located within the zone are eligible for tax breaks.
For example, businesses in the zone who hired employees after May, 1992, may earn a state tax credit of up to $6,370 for the first year of employment, Kuebel said. Lesser tax credits per employee would continue through 1998.
Kuebel will provide maps of the Van Nuys zone, go over the incentives that are available and answer technical questions. An accountant will also attend. The meeting will be held at 6:30 p.m. at Economy Office Furniture, 6300 Sepulveda Blvd.
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