California Offers $151 Million in Business Tax Credits

CALIFORNIA COMPETES TAX CREDIT

Last year, the State of California is recently began offering a new tax credit to businesses and a second year of awards is about to begin. The California Competes Tax Credit is an income tax credit available to businesses that want locate to California or stay and grow in the state. Tax credit agreements will be based on a competitive application process and approved by a “California Competes Tax Credit Committee.” The program is designed to incentivize investment and job creation by businesses.

APPLICATION PERIODS FOR FISCAL YEAR 2014-2015  ($ 151.1 MILLION AVAILABLE)

• September 29, 2014 through October 27, 2014 ($45 million available)
• January 5, 2015 through February 2, 2015 ( $75  million available)
• March 9, 2015 through April 6, 2015 ($31.1 plus any non-allocated amounts)

For further information, please visit:  www.business.ca.gov/calcompetes.aspx or contact the Governor’s Office of Business Development at:

Email: CalCompetes@gov.ca.gov

Phone: (916) 322-0694