Update for fiscal year 2023-2024: The application periods and allocation amounts have been announced –
- July 24, 2023 – August 14, 2023 ($164 million in tax credits available; $120 million in grants available)
- January 2, 2024 – January 22, 2024 ($164 million in tax credits available)
- March 4, 2024 – March 18, 2024 ($164 million in tax credits plus any remaining unallocated amounts from the previous application periods)
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The state’s popular California Competes Tax Credit program continues to be available during the 2019-2020 fiscal year. The state has allocated approximately $237 million to be awarded to both small and large business taxpayers. In June, the final award period of last fiscal year, approximately $55 million of tax credits were granted to twenty taxpayers. (more…)
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.
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