The Urban Enterprise Zone (UEZ) program was established under Ind. Code 5-28-15 to promote investment and increased economic activity in some of the most distressed urban areas around the state. There are currently 22 active UEZs in Indiana.
The following tax incentives are available to businesses and residents located or doing business within a UEZ (see Indiana Dept. of Revenue Information Bulletin 66 for a description of each):
1. Employee Income Tax Deduction
2. Employment Expense Credit
3. Loan Interest Credit
4. Investment Cost Credit
5. Property Tax Investment Deduction
Each zone business must file an annual registration with its local Urban Enterprise Association and with the IEDC to claim tax savings and stay in good standing with the program. A zone business must file its Enterprise Zone Business Registration (EZB-R) or Request for Extension (EZB-E) with the IEDC by June 1 of each year. If an EZB-E is filed, the zone business has until July 15 to file its EZB-R.
Beginning in 2017, FY 2016 EZB-Rs and EZB-Es must be submitted electronically at https://iedcportal.iedc.in.gov/