California Competes Tax CreditAugust 2021 Tax News
The California Competes Tax Credit (CCTC) is an income (or franchise) tax credit available to businesses that want to grow in California and create new, quality full-time jobs. The 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.
For Fiscal Year 2021/2022, the CCTC is available for allocation in three separate application periods:
- July 26, 2021 through August 16, 2021
- January 3, 2022 through January 24, 2022
- March 7, 2022 through March 28, 2022
For the first application period, $150 million is available for allocation. Applications for the credit will be accepted at calcompetes.ca.gov from July 26, 2021, until August 16 2021.
In addition, GO-Biz is hosting online webinars on how to apply for the credit on the following dates:
August 5, 2021 from 4:00-5:00 p.m. PDT
August 10, 2021 from 11:00 a.m.-12:00 p.m. PDT
Visit GO-Biz's Program webpage on the California Competes Tax Credit for more information.