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GO-Biz to Award $75M 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 $75M in tax credits available.  The CCTC rewards 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 5 years. 

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GO-Biz to Award $236.8M 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).  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,

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AB 1726 Proposes California WOTC

Assemblymembers Dr. Joaquin Arambula (D-Fresno) and Sabrina Cervantes (D-Corona) have introduced a bill that would replace the ineffective and underutilized New Employment Credit (NEC) with a California Work Opportunity Tax Credit (WOTC) that mirrors the federal WOTC.  AB 1726 would incentivize employers to hire individuals with barriers to employment and utilize the built-in efficiencies the

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GO-Biz Opens Final Round of California Competes Tax Credit

The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting applications for the California Competes Tax Credit (CCTC).  A total of $219,793,004 in CCTC was budgeted for the 2018-2019 fiscal year and the $74M available during this final round may ultimately increase if GO-Biz awards less than the amounts allocated to the previous

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GO-Biz Offering $75M 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 $75M in tax credits available.  The CCTC rewards businesses that hire full-time employees and invest in real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property during

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GO-Biz Offering $70M to California Businesses

The initial round of applications for the California Competes Tax Credit (CCTC) during fiscal year 2018-2019 will open on July 30th, 2018 with more than $70 million in tax credits available.  The CCTC rewards businesses that hire full-time employees and invest in real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property

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GO-Biz to Award $55M+ to California Businesses

The final round of applications for the California Competes Tax Credit (CCTC) during fiscal year 2017-2018 begins on 3/5/18 (M) with more than $55 million in tax credits available.  The CCTC rewards businesses that hire full-time employees and invest in real (land, leases, leasehold improvements, etc.) and personal (vehicles, equipment, electronic devices, software, IP, etc.) property during the next

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Future of California Tax Credits in Proposed 2018-2019 Budget

The Governor’s proposed 2018-2019 budget includes an extension of the California Competes Tax Credit (CCTC) program with $180 million to be awarded annually for another 5 years and an additional $20 million annually to assist small businesses.  It appears the New Employment Credit (NEC) will also continue with $50 million available annually to encourage businesses to hire individuals with

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GO-Biz Offering $100M to California Businesses

The second round of applications for the California Competes Tax Credit (CCTC) in fiscal year 2017-2018 is now open through 1/22 (M) @ 11:59 PM (PST).  The Governor’s Office of Business and Economic Development (GO-Biz) is offering $100M of CCTC this round for businesses that hire full-time employees and invest in real and personal property over the next 5

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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

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