CA Competes Tax Credit
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July 20, 2015
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 the 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 2015/2016, $200.9 million of the California Competes Tax Credits will be available for allocation during three application periods. For the first application period, $75 million will be available for allocation. Applications for the credit will be accepted at calcompetes.ca.gov from July 20, 2015, until August 17, 2015. Go to business.ca.gov for more information on the California Competes Tax Credi
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