The California Competes Tax Credit is an income tax credit for businesses wanting to stay and grow in California. The purpose is to attract and retain employers in California industries with high economic multipliers and that provide their employees good wages and benefits. Any business can apply.
The credit applies to any type of business expecting to increase headcount and/or make a capital investment in California. Businesses compete for these tax credits by asking for a percentage return on investment.
California plans to grant $230 Million in Cal Competes tax credits to California businesses over three separate application rounds in 2018. Typically, a business can get up to 20% ROI.
If you think your company may qualify for this tax credit and would like to learn more about how to take advantage of this cost savings opportunity, please contact us today at firstname.lastname@example.org or call 949-910-2727.
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