GO-Biz Applications for California Competes Tax Credits Available on July 29, 2019!
California Competes Tax Credit
The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California.
A total of $236,808,527 in California Competes Tax Credit is available for allocation in the 2019-2020 fiscal year. Starting on July 29, 2019, applications for the California Competes Tax Credit will be accepted online at http://www.calcompetes.ca.gov/
Tax credit agreements are negotiated by GO-Biz and approved by a statutorily created “California Competes Tax Credit Committee,” consisting of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, and one appointee each by the Speaker of the Assembly and Senate Committee on Rules.
Applications for the California Competes Tax Credit will be accepted online during the following periods:
1. July 29, 2019, through August 19, 2019 ($90 million available)
2. January 6, 2020, through January 27, 2020 ($75 million available)
3. March 9, 2020, through March, 30, 2020 ($71.8 million plus any remaining unallocated amounts from the previous application periods)
For questions or technical assistance, we are available by email or by phone at (916) 322-4051.
California Business Portal for resources and information about other tax incentives and to help you get your business up and running.
The California Competes Tax Credit Committee meetings will be held on the following dates:
1. November 12, 2019
2. April 23, 2020
3. June 18, 2020
Times and locations to be determined.