— The Truck Renting and Leasing Association (TRALA) is supporting the Colorado Motor Carriers Association’s (CMCA) effort to enact legislation that would qualify new truck purchases for the state’s enterprise zone tax incentive program. The proposal initially endorsed by TRALA’s Tax Advisory Council, would allow for a 3 percent state income tax credit, based on the purchase price, for new trucks that are domiciled within an enterprise zone. The current state enterprise zone tax program excludes trucks and applies only to equipment that remains within an enterprise zone for the entire year.
The Colorado enterprise zone tax credit program, created in 1986, is intended to encourage “private enterprise to expand and for new businesses to locate in economically distressed areas of the state.” Currently there are 16 enterprise zones in Colorado. TRALA members are encouraged to examine whether they have a location in an enterprise zone to take full advantage of the incentives already offered. The incentives include an investment tax credit for the purchase of new equipment, a job tax credit for employer health insurance programs, and an income tax credit for job training programs.
For more information on Colorado’s enterprise zones, including their locations and the tax incen-tive programs offered, visit the Web site of the Colorado Office of Economic Development and Foreign Trade at www.state.co.us/oed/edc/e_zone.cfm. For more information on TRALA’s support of the CMCA-led effort, contact John Lynch at firstname.lastname@example.org or (703) 299-9120.