GO-Biz Awards $70M to California Businesses

The California Competes Tax Credit (CCTC) Committee met yesterday and approved agreements to award $69,575,082 to California businesses.  The list of awardees is posted here.  The remaining application rounds for FY 2017-18 are:

  • January 2, 2018 through January 22, 2018 ($100M)
  • March 5, 2018 through March, 26, 2018 ($55.4M + any remaining unallocated amounts)

The LAO recently issued a report recommending discontinuing the CCTC program beyond the current fiscal year and offering broad-based tax relief in its place.  As a result, taxpayers should consider taking advantage of the CCTC while it is available.  Do not hesitate to contact us for a free consultation to assess this opportunity.