Jan. 25 is the last day for businesses to apply for a California Competes tax credit through the state government.
Any business that is growing in the state of California over the next five years, or is considering leaving the state, is encouraged to apply for a significant tax credit to offset its state income tax liability.
The state has scheduled a webinar on the tax credit at 11 a.m. on Tuesday, Jan. 19. For information, go to https://business.ca.gov/california-competes-tax-credit/ or at https://bit.ly/2LBOMDM
Credits are awarded based on several factors, including the number of jobs created or retained in California; capital investments in California over the next five years; overall economic benefit to the state and its people; and flight risk (and commitment to remaining in the state).
Application instructions, FAQs and other technical documents are available here.
The state has also announced a second application period running from March 8 to March 29.
The Governor’s Office of Business and Economic Development sponsors the program.