CA Governor’s Office of Business and Economic Development reminds businesses about upcoming August 21st deadline for applications for California Competes Tax Credit.
The California Competes Tax Credit is an income tax credit available to businesses who want to come, stay, or grow in California.
Tax credit agreements are negotiated by Governor’s Office of Business and Economic Development (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. (more…)
For nonprofit organizations, no income tax may be due, but an annual return must be provided by certain exempt organizations in order to maintain tax-exempt status. Tax-exempt organizations typically file a Form 990, but depending on the amount of gross receipts or the total value of assets, the organization may have options for filing a more simplified form. Below we have outlined the requirements for each form: (more…)