In the California Competes Tax Credit (CCTC) program’s 2017/2018 fiscal year, the California Governor’s Office of Business and Economic Development (GO-Biz) is authorized to negotiate more than $230 million in tax credits over three application periods. With the first application period worth $75 million completed, an additional $100 million is set to become available when the second application period opens January 2, 2018.
Application Periods
Applications will be accepted online at calcompetes.ca.gov during the two remaining periods:
- January 2, 2018–January 22, 2018: $100 million available
- March 5, 2018 – March 26, 2018: $55.4 million available plus any remaining unallocated amounts from previous application periods
Eligibility
The CCTC is available to businesses located both inside and outside of California with plans to grow new full-time jobs in the state of California—regardless of size or industry. Specifically, the CCTC is available to businesses:
- Thinking about expanding, that are currently located in California
- Planning to start or relocate operations to California
- Contemplating leaving California
Since 2014, GO-Biz has awarded more than $500 million to 775 companies that are projected to create more than 77,000 new jobs and bring in over $15 billion in new investments.
We’re Here to Help
Since the CCTC’s inception in 2014, we’ve represented our clients through its highly competitive application and negotiation process to secure more than $30 million in CCTC awards. With more than $150 million in credits still available in the program’s final fiscal year, we encourage you to learn more about the process. Visit our CCTC webpage for more information, or email us at statetax@mossadams.com.