GO-Biz to Award $120M to California Businesses

The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Tax Credit (CCTC) with over $120M in tax credits available.  The CCTC rewards businesses of all sizes that (1) hire full-time employees and (2) purchase or lease real (land, buildings, 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 second round for fiscal year 2022-2023 and the deadline is Monday, January 23, at 11:59 PM (PST).  Applications can be submitted here.  Please do not hesitate to contact us if you have any questions or require assistance.