The state’s popular California Competes Tax Credit program continues to be available during the 2024-2025 fiscal year.
Taxpayers starting or expanding their California operations through increased employment or capital investments are ideal candidates for this credit. Taxpayers must submit their credit applications online. Information concerning the credit and the application process is available at: California Competes Tax Credit.
Application periods for the current fiscal year (2024 – 2025) are:
- July 22, 2024 – August 12, 2024 ($215 million in tax credits available)
- January 6, 2025 – January 27, 2025 ($215 million in tax credits available)
- February 24, 2025 – March 10, 2025 ($214.7 million in tax credits plus any remaining unallocated amounts from the previous application periods)
If your Company is starting or expanding operations in California you may qualify for the credit, but you must apply to be considered!
GO-Biz will be hosting webinars prior to each application period which will consist of a 45-minute presentation and a Q&A session. Details and webinar registration can be found here:
To learn more about the California Competes Credit review the California Competes Tax Credit FAQ.