The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Tax Credit (CCTC). GO-Biz will be allocating $236,808,527 of CCTC in fiscal year 2019-2020 during three application rounds:
- July 29, 2019 through August 19, 2019
- January 6, 2020 through January 27, 2020
- March 9, 2020 through March 30, 2020
The CCTC rewards California businesses that hire full-time employees and purchase or lease real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property over the next five years regardless of size or location. The program has awarded nearly $1 billion to 1,029 companies since 2014. The deadline to submit an application for the initial round is Monday, August 19, at 11:59 PM (PDT) with $90 million available. Please do not hesitate to contact us if you have any questions or would like a free consultation.