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Looking to Expand Your Business in 2016?

Looking to Expand Your Business in 2016?
Register for a Free California Competes Webinar
for Valuable Tax Credit Information!
Did you know your business could be eligible for thousands of dollars in tax credits?

Since June 2014, GO-Biz has awarded $223 million in tax credits to 330 companies projected to create over 42,000 jobs and make $10.2 billion in investments in California.

Your business could be next!

Administered by the Governor’s Office of Business and Economic Development, GO-Biz, the California Competes Tax Credit is an income tax credit program available to businesses that want to locate to California or stay and grow in California. The program is available to small and large businesses including those that have not yet started operations.

If you are planning to expand your business in California or to learn more about the program, register for one the following free workshops today:

Webinars – Updated Links!

Thursday, March 3, 2016: 5:30 p.m. – 6:30 p.m.
Details and Registration

Wednesday, March 9, 2016: 10:30 a.m. – 11:30 a.m.
Details and Registration

Thursday, March 17, 2016: 7:30 a.m. – 8:30 a.m.
Details and Registration

Thursday, March 17, 2016: 5:30 p.m. – 6:30 p.m.
Details and Registration

Monday, March 21, 2016: 12:00 p.m. – 1:00 p.m.
Details and Registration

GO-Biz will accept applications for the CCTC from March 7, 2016, through March 28, 2016.  There will be at least $81 million in tax credits available for businesses that are expanding and adding jobs in the state. Businesses of all sizes are encouraged to apply.

Let’s bring some of these funds to Moreno Valley!

California Competes Tax Credit FAQs:

1. What is the California Competes Tax Credit?
The California Competes Tax Credit is an income tax credit available to businesses that want to locate in California or stay and grow in California. Tax credit agreements will be 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.

2. How much in tax credits will be available each year?
The tentative amount of credits that can be allocated by GO-Biz is as follows: $200 million in each fiscal year 2015-16 through 2017-18.

3. Can any business apply for the California Competes Tax Credit? Is the credit restricted to only certain industries or locations in California?
Any business can apply for the California Competes Tax Credit. The credit is available statewide to all industries. However, while there are no geographic or sector-specific restrictions, the purpose of the California Competes Tax Credit is to attract and retain high-value employers in California, in industries with high economic multipliers and that provide their employees good wages and benefits.

4. Is there a fee to apply for the California Competes Tax Credit?
No, there is no fee to apply for the credit.

5. Will small businesses be able to apply for the credit?
Yes, not only are small businesses able to apply for the credit, 25 percent of the total credits available each year are specifically reserved for small businesses (gross receipts, less returns and allowances, of greater than $0 but less than $2 million in the business’ prior tax year).

March 1st, 2016|

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