Alert

California Opens Fiscal Year with $243.3 Million for California Competes Tax Credit

July 17, 2016

The California Governor’s Office of Business and Economic Development (GO-Biz) is authorized to negotiate $243.3 million in tax credits for the 2016–2017 fiscal year via the California Competes Tax Credit (CCTC).

Any company with plans to grow can apply—regardless of size, industry, or location—during three application periods.

Three application periods

The CCTC is available to businesses currently located in California that are thinking about expanding their business as well as those planning to start or relocate operations in the state.

Since 2014, GO-Biz has awarded approximately $340 million to 500 companies, helping to create 55,000 California jobs and $12.9 billion in investments.

We’re Here to Help

Since the CCTC’s inception in 2014, we’ve helped clients access a total of over $8 million in CCTC awards by assisting with the highly competitive application process. With $243.3 million in credits up for award in 2016–2017 and another $200 million in 2017–2018, we encourage you to learn more about the process. Visit our CCTC Web page for more information, or email us at statetax@mossadams.com.

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