California Competes Tax Credit Application Period Open

Applications are now being accepted for the California Competes Tax Credit.  The California Competes Tax Credit provides an income or franchise tax credit to businesses that relocate to California or expand within California.  The proposed business venture, investment, or expansion in California is the basis for award of the California Competes Tax Credit.  Applications are reviewed by The Governor's Office of Business and Economic Development (GO-Biz) and will be accepted through April 6, 2015.  This application period is the last of three for fiscal year 2014/15.

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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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