California: California Competes Tax Credit application period starts March 9, 2020

Listen to a brief overview of state tax developments this week, including California, or read full California development below.

Detailed California Development

The final application period for the FY 2020 California Competes Tax Credit runs from March 9, 2020 to March 30, 2020. There is $71.8 million available for allocation, plus any remaining unallocated amounts from the previous application periods. The California Competes Tax Credit (CCTC) is an income or franchise tax credit available to businesses that want to come or to stay and grow in California. Tax credit agreements are negotiated by the Governor's Office of Business and Economic Development (GO-Biz) and approved by a statutorily-created CCTC Committee. The Committee consists of: (1)  Director of GO-Biz (Chair); (2) State Treasurer; (3) Director of the Department of Finance; and (4) One appointee each by the Speaker of the Assembly and Senate Committee on Rules. For more information on the credit opportunities, please contact Gina Rodriquez at 916-551-3121 or Eric Drew at 916-448-4700. 

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Featured Speaker

Sarah McGahan

Sarah McGahan

Managing Director, State & Local Tax, KPMG US