california tax credit – Bregante+Company LLP

The “California Competes” Tax Credit is Now a Possibility for all California Businesses

The California Governor’s Office of Business and Economic Development, or Go-Biz, just completed its first round of accepting applications for the new California Competes Tax Credit. The next round of applications will be accepted following the beginning of the new fiscal year on July 1. The California Competes Tax Credit is a “negotiated credit” that is available to businesses that want to come to California or stay and grow in California, and that promise to create well-paying jobs, with benefits and other perks. There is a two-step application process.

Changes to Enterprise Zone Tax Incentives

The Enterprise Zone tax incentives as we have come to know and love them are all expiring on December 31, 2013. But all hope is not lost…the old Enterprise Zone Hiring Credit is being replaced by the New Employment Credit and the old Enterprise Zone Sales Tax Credit is being replaced by the Manufacturing Exemption.

Click here for more information regarding the New Employment Credit:

https://www.ftb.ca.gov/businesses/Economic_Development_Incentives/New_Employment_Credit.shtml

Click here for more information regarding the Manufacturing Exemption:

http://www.boe.ca.gov/sutax/manufacturing_exemptions.htm#page=Overview