California Competes Tax Credit January 2020 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 remaining application periods are:

January 6, 2020 through January 27, 2020
March 9, 2020 through March 30, 2020

For the next application period, $75 million is available for allocation. Applications for the credit will be accepted at calcompetes.ca.gov from January 6, 2020 until January 27, 2020.

Go to GO-Biz's Program webpage on the California Competes Tax Credit for more information.