From the section: WORK
State Tax Incentives- Local Agency Military Base Recovery Area (LAMBRA)
BackgroundThe State of California has designated the former Marine Corps Air Station site (Tustin Legacy) in the City of Tustin a Local Agency Military Base Recovery Area (LAMBRA). The LAMBRA program was developed to attract reinvestment and re-employ workers. The LAMBRA designation has tax incentives similar to Enterprise Zones that are binding for a period of eight years as well as significant state tax credits for businesses locating on the base. For more information about the Tustin Legacy LAMBRA program, please contact Jerry Craig, Program Manager for the City of Tustin Community Redevelopment Agency (information below).
Who is Eligible?Businesses who are or will be relocating to the designated Tustin LAMBRA Zone are eligible for program benefits.
- Net Operating Loss Carry-Forward - this benefit has been temporarily suspended.
- Hiring Tax Credit - businesses may earn up to $37,440 in state tax credits for each qualified employee hired; up to $2 million per year.
- Sales and Use Tax Credit - businesses may earn sales tax credits on purchases of $20 million per year of qualified machinery and machinery parts.
- Up-Front Depreciation - rather than using straight-line depreciation for depreciable property, businesses may claim the depreciation in a single year, up to $40,000 annually.
How Do I Receive More Information?
- Click here for frequently asked questions regarding the LAMBRA program.
- For more information regarding each tax incentive click here.
- Any additional questions can be directed to:
Jerry Craig, Program Manager
City of Tustin Community Redevelopment Agency
300 Centennial Way, Tustin, CA 92780
PH (714) 573-3121
FAX (714) 669-0976
EMAIL at email@example.com