The Governor’s Office of Business and Economic Development (GO-Biz) has adopted final regulations to implement the California Competes Tax Credit (CCTC) program. The final regulations are substantially similar to the emergency regulations that were adopted on November 17, 2014. GO-Biz administers the CCTC, which is a credit against the personal income tax and the corporation franchise (income) tax for businesses locating or expanding in California, based on an amount negotiated between GO-Biz and the taxpayer (as approved by the CCTC Committee). For Frequently Asked Questions on how the CCTC works please click here.
Go-Biz publishes more details regarding the California Competes Tax Credit
By Jeff Belingheri|March 23rd, 2015|Categories: Business Operations, Business Tax, Individual Tax|Tags: 2014, Businesses, California, California Competes Tax Credit, CCTC, Corporation Franchise Tax, credit, Go-Biz, Governor's Office of Business and Economic Development, Income Tax, November 17|Comments Off on Go-Biz publishes more details regarding the California Competes Tax Credit
About the Author: Jeff Belingheri
Jeff is a Partner at Bregante + Company LLP, providing tax, accounting and consulting services to closely held businesses and high net worth individuals throughout the greater San Francisco Bay Area.