California Competes Releases Final Regulations

Effective February 5, 2015, final regulations to implement the California Competes Tax Credit (CCTC) program were adopted.  These final regulations are substantively similar to regulations adopted as emergency regulations on November 17, 2014.  CCTC is administered by the Governor's Office of BBusiness and Economic Development (GO-Biz), is a credit against the personal income and the corporation franchise (income) tax for businesses locating or expanding in California, based on an amount negotiated between GO-Biz and the taxpayer (as approved by the CCTC Committee).  

 

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