California Competes Tax Credit first application period announcement for fiscal year 2019/2020 August 2019 Tax News
The California Competes Tax Credit (CCTC) is an income or franchise tax credit available to businesses that want to come to or stay and grow in California. Tax credit agreements are negotiated by the Governor's Office of Business and Economic Development (GO-Biz) and approved by a statutorily-created CCTC 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 2019/2020, the CCTC is available for allocation in three separate application periods:
- July 29, 2019 through August 19, 2019
- January 6, 2020 through January 27, 2020
- March 9, 2020 through March 30, 2020
For the first application period, $90 million is available for allocation. Applications for the credit will be accepted at calcompetes.ca.gov from July 29, 2019, until August 19, 2019.
For more information, go to GO-Biz's Program webpage on the California Competes Tax Credit.