Would you be interested in having tax credits for your business? The third quarter application period is open for businesses interested in applying for the California Competes Tax Credit program. The program is provided by the Governor’s Office of Business and Economic Development (GO-Biz), which offers a variety of different services to help business owners including international trade development, regulation guidance, small business assistance, and assistance with state government. With information shared by the CalChamber’s website, you can learn how this program could potentially help your business and how you can apply.
The California Competes Tax Credit is an income tax credit available to businesses that want to come, stay, or grow in California. Tax credit agreements are negotiated by GO-Biz and approved by a statutorily created “California Competes Tax Credit Committee,” consisting of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, and one appointee each by the Assembly Speaker and Senate Rules Committee.
This program is open to any business planning to create new full-time jobs in the state, regardless of size or location. Businesses can access the online application here. Applications must be submitted by August 21.
Since 2014, GO-Biz has allocated $492.5 million to 688 companies projected to create 70,747 new jobs and $14.4 billion in new investments.
Members of the CCTC team are available to provide technical application assistance. An application guide, Frequently Asked Questions (FAQs) and program regulations are available on the California Competes Tax Credit page.
If you would like to learn more information on CCTA program, you can participate in an upcoming online webinar hosted by GO-Biz. Each webinar includes an overview of the program, program goals and evaluation criteria, along with step-by-step instructions to help you through the application process. Each presentation is 45 minutes long and is followed by a question and answer session. You can sign up and find out the details for the next two webinars below:
August 9:
August 16:
