07.22.15 |
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Application Periods Announced for California Competes Tax Credit Awards

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The California Governor’s Office of Business and Economic Development (GO-Biz) has announced the fiscal year 2015-16 application periods for the California Competes Tax Credit, which is an income tax credit that may be available to businesses that are considering an expansion in, or relocation to, the State of California.[1] The new application periods for employers are as follows:[2]

  • July 20, 2015 through August 17, 2015
    • GO-Biz will award up to $75 million in credits.
  • January 4, 2016 through January 25, 2016
    • GO-Biz will award up to $75 million in credits.
  • March 7, 2016 through March 28, 2016
    • GO-Biz will award $50.9 million plus any remaining unallocated credits from the previous application periods.

The California Competes Tax Credit awards are competitively negotiated between GO-Biz and applicant employers.  The awards are approved by the California Competes Tax Credit Committee, which consists of the state treasurer, director of the Department of Finance, a delegate to the director of GO-Biz, an appointee by the Speaker of the Assembly and an appointee by the Senate Committee on Rules.

If you are a California-based business, consider registering for an upcoming workshop to learn more about the California Competes Tax Credit and 2015-15 application periods.

To learn more about how ADP® can help businesses identify and capture tax credits for which they’re eligible, go to the ADP SmartCompliance® Tax Credits module.

 
Learn More About ADP SmartCompliance® Tax Credits
 


 

[1]http://www.business.ca.gov/Portals/0/CA%20Competes/Docs/Notice%20California%20Competes%20Tax%20Credit%20Fiscal%20Year%202015-16.pdf

[2]http://www.business.ca.gov/Portals/0/CA%20Competes/Docs/Notice%20California%20Competes%20Tax%20Credit%20Fiscal%20Year%202015-16.pdf


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