California Competes Tax Credit application period starts March 9, 2020 March 2020 Tax News

The California Competes Tax Credit (CCTC) is an income or franchise tax credit available to businesses that want to come 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 period is March 9, 2020 through March 30, 2020.

For the last application period, $71.8 million is available for allocation plus any remaining unallocated amounts from the previous application periods. Applications for the credit will be accepted at calcompetes.ca.gov from March 9, 2020, until March 30, 2020.

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