CalCompetes Tax Credit Application Period Closes Mar. 18 featured image

CalCompetes Tax Credit Application Period Closes Mar. 18

News from: CalChamber

The latest California Competes Tax Credit (CCTC) program application window is currently open and will close on Monday, March 18, 2024 at 11:59 p.m. PST.

This is the last application period for the 2023–2024 fiscal year, with more than $164 million in tax credits available.

The CCTC is a tax credit program, run by the Governor’s Office of Business and Economic Development (GO-Biz), that grants tax credits to businesses that want to locate in California or stay and grow in the state.

Interested businesses need to apply through the California Competes website, https://business.ca.gov/california-competes-tax-credit/, and may do so only during an open application period.

Applicants will be evaluated on 14 factors, including:

  • Number of jobs created or retained;
  • Amount of investment;
  • Overall economic benefit to the state;
  • Opportunities for future growth and expansion.

An application guide, Frequently Asked Questions (FAQs), program regulations, and a downloadable version of the webinar presentation are available here.

Informative Webinar Available

For each application period, GO-Biz hosts online webinars about the CCTC program. Each webinar consists of a 45-minute presentation, followed by a question-and-answer session. Each presentation includes the following:

  • Overview of the program.
  • Program goals and evaluation criteria.
  • Step-by-step instructions through the application process.

Businesses are encouraged to participate in the webinars to receive instructions on how to apply.

The next webinar will be held on March 14, 2024 at 3:00pm PDT. For webinar details and registration, click here.

To apply for this tax credit, visit https://business.ca.gov/california-competes-tax-credit/.