In July 2015, the California Governor’s Office of Business and Economic Development (GO-Biz) launched the California Business Portal, a one-stop website for business owners to find information and assistance regarding operating a business in the state of California. It provides information to business owners regarding starting a new business, obtaining permits and licenses, various tax incentives, local resources and more. Click here to view the new portal.
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.
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.