Credits/Incentives:
California: Application Period for Competes Tax Credit is Scheduled to Open on July 26
Notice: California Competes Tax Credit Application Periods for Fiscal Year 2021-2022, California Governor’s Office of Business and Economic Development (6/30/21). The California Governor’s Office of Business and Economic Development (GO-Biz) announced that, for fiscal year 2021/2022, applications for the California Competes Tax Credit (CCTC) will be accepted online during the following periods:
July 26, 2021, through August 16, 2021 ($100 million available);
January 3, 2022, through January 24, 2022 ($95 million available); and
March 7, 2022, through March 28, 2022 ($89.7 million plus any remaining unallocated amounts from the previous application periods).
As such, businesses wanting to locate in California, or stay and grow in California, may wish to consider submitting an application to obtain the CCTC. According to GO-Biz, applicants will be analyzed based on twelve different factors of evaluation, including number of full-time jobs being created, amount of investment, and strategic importance to the state or region. Please contact us with any questions.
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