The California Competes Tax Credit is an income tax credit available to businesses that want to stay and grow in California. The application period kicked off Monday, July 27, with $180 million in available tax credits. Managing editor Tami Roleff explains the program and how to apply…
The purpose of the California Competes Tax Credit is to attract and retain high-value employers in California. Businesses of any size are eligible to apply for the California Competes Tax Credit. There is no fee to apply. Factors that are considered when granting the tax credit are employee compensation and benefits; the amount the business has invested in the state; the extent of unemployment or poverty in the area where the business is located; and more. Twentynine Palms—but not Yucca Valley—is listed as a high poverty/unemployment area. The next informational webinar will be held on Thursday, August 6.
