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Businesses in the News

Posted on: July 15, 2015

California Competes Tax Credit

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The State of California Governor’s Office of Business and Economic Development (GO-Biz) recently announced the California Competes Tax Credit Application Periods for Fiscal Year 2015-2016. The California Competes Tax Credit is an income tax credit available to businesses that want to locate in California, or stay and grow in the State. Application periods are as follows:

July 20, 2015 through August 17,2015 - $75 million in available funds
January 4, 2016 through January 25, 2016 - $75 million in available funds
March 7, 2016 through March 28, 2016 - $50.9 million in available funds, plus any remaining unallocated amounts from the previous application periods.

The Tax Credit is non-refundable, no application fee, and 25% of funds are reserved for small businesses, so be sure to apply no matter the size of your business, big or small. For more information, visit The California Competes Tax Credit Home page.

Applications will be evaluated on the number of jobs created or retained, amount of investment, economic impact, and many other factors. Tax credit agreements will be negotiated by GO-Biz and approved by a statutorily created “California Competes Tax Credit Committee,” consisting of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, one appointee each by the Speaker of the Assembly and Senate Committee on Rules.

Click here for additional information
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