Glossary of Terms
Empowerment Zone — Highly distressed urban and rural communities designated by the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA) that are eligible for grants, tax credits, bonding authority and other incentives.
Federal Tax Incentive — A tax incentive offered by the federal government.
Franchise Tax Board (FTB) — The California state agency responsible for administering the personal and corporate income tax.
Internal Revenue Service (IRS) — The federal agency responsible for tax collection and tax law enforcement.
Renewal Community — Highly distressed urban and rural communities designated by the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA) that are eligible for grants, tax credits, bonding authority and other incentives.
Research and Development (R&D) Tax Credit — A non-refundable tax credit offered by the federal government and most states to incentivize companies to improve products and processes.
Sales or Use Tax Credit — A tax credit offered under the California Enterprise Zone program. Businesses may receive a credit in the amount of the sales or use tax paid on qualifying property placed in service within an Enterprise Zone.
State Tax Incentive — A tax incentive offered by a state government.
Work Opportunity Tax Credit (WOTC) — A federal tax credit offered to employers that hire individuals from the program’s targeted groups. The maximum credit is $9,000 per qualifying employee.
Contact Us
Romo Incentives Group
785 Orchard Drive
Folsom, CA 95630
Suite 105
Toll Free: 866.941.8383
Local: 916.941.0350
info@romogroup.com
“With more than forty newspapers and most of those located in California, it was important for us to work with consultants well-versed in California tax incentives. Romo Incentives Group’s experience as former corporate tax auditors was instrumental in their identification of significant tax savings for our company.”
Steve Barkmeier, Tax Director
Media News Group, Inc.
“Whoever wrote, ‘Nothing is certain but death and taxes’, has never worked with Romo Incentives Group.”
Darren Morris, President
Pacific Coast Building Services
“Romo Incentives Group helped us achieve tremendous savings claiming both federal and state tax incentives. ROMO identified the eligible programs and performed all work necessary to secure our tax credits. The engagement was completed in a timely manner with minimal assistance from our staff.”
Lisa Limcaco, Controller World of Good Taste, Inc.
(La Bou & Lemon Grass)
“ROMO’s expertise led to results that far exceeded our expectations. As a result, we value the ongoing relationship.”
Matt Black, Tax Director
The McClatchy Company
“ROMO’s knowledge of current and developing tax issues benefited our company with savings that exceeded our expectations. They always conduct themselves in the most professional manner and we look forward to working together on future projects.”
Ken Irwin, Tax Director
Pacific Coast Companies, Inc.