Final Application Round of California Competes Tax Credit Opens

The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Tax Credit (CCTC) with over $73M in tax credits available.  The CCTC rewards businesses of all sizes that (1) hire full-time employees and (2) purchase or lease real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property over the next 5 years.  It is a non-refundable income tax credit that may reduce tax below tentative minimum tax and has a carryforward period of 6 years.  This is the third and final round during fiscal year 2019-2020 and the deadline is Monday, March 30, at 11:59 PM (PDT).  Please do not hesitate to contact us if you have any questions or require assistance.