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FTB On Vouchering Deadlines

In FTB’s March “Tax News” includes a section regarding the timing of obtaining Enterprise Zone vouchers for qualified employees hired before 1/1/2014. FTB makes clear their position that taxpayers will not be be allowed to claim a credit unless they have a voucher from the local zone, even if they have the documentation to support the qualification. FTB also notes that some zones are beginning to announce that they will prematurely stop their vouchering services even before the statutory deadline:

Qualified taxpayers who hire a qualified employee on or before December 31, 2013, may file applications for vouchers during 2014 with their local agents, but all vouchers must be issued on or before December 31, 2014. Your clients do need to be sure they get the required voucher. The applicable enterprise zone hiring credit statutes require a qualified taxpayer to obtain and retain the voucher and provide it to us upon request. We will disallow any hiring credits where these requirements are not met. Any business interested in applying for a hiring credit voucher should contact their local zone administrator.

Although the law allows for the issuance of voucher through December 31, 2014, the voucher certificates are issued by the local zone administrators. A few zone administrators have issued announcements that they will only accept applications for vouchers until June 30, 2014, and other zone administrators are also limiting applications on various other dates, so be sure to check with your local zone administrators for dates.

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