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CRIZ Reporting: What You Need to Know | Ryan Shultz

June 1, 2016 @ 9:00 am - 10:00 am

Our community member Ryan Shultz will lead us in a morning discussion.

In 2013, the Commonwealth of Pennsylvania passed a state law allowing for City Revitalization & Improvement Zones (CRIZ) throughout the state. Businesses that reside within a CRIZ zone may have a portion of their state and local tax revenues allocated to paying off bonds and loans that were dedicated to qualifying improvements within the CRIZ. These businesses must file a separate annual report by June 15th, so that their tax funds can be directed towards the CRIZ.

How is the reporting done?
CRIZ reporting is done on a cash basis; businesses are required to report the amount that they spent on taxes between January 1st and December 31st of the previous year, regardless of when the tax bill was incurred. Separate reports must be filed for both the state (PA Department of Revenue) and local (City of Lancaster) tax revenues.

Do I need to file CRIZ reports?
It is required that all businesses within a CRIZ, as well as all contractors working on a CRIZ project, file the CRIZ report by June 15th. The City of Lancaster CRIZ encompasses a total area of about 130 acres, primarily in central downtown Lancaster.

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Date:
June 1, 2016
Time:
9:00 am - 10:00 am
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