California Competes Tax Credit
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September 29, 2014
The California Competes Tax Credit is an income or franchise tax credit available to businesses that come to California or stay and grow in California. Tax credit agreements will be negotiated by Governor's Office of Business and Economic Development (GO-Biz) and approved by a statutorily created "California Competes Tax Credit Committee." The committee consists of:
- Director of GO-Biz (Chair).
- State Treasurer.
- Director of the Department of Finance.
- One appointee each by the Speaker of the Assembly and Senate Committee on Rules.
For Fiscal Year 2014/2015, $151.1 million of the California Competes Tax Credits will be available for allocation during three application periods. For the first application period, $45 million will be available for allocation.
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