California Competes Tax Credit available to qualified employers

On Sept. 10, the California Governor’s Office of Business and Economic Development announced the first application period of the 2014–2015 fiscal year for the California Competes Tax Credit (CCTC) is starting on Sept. 29, 2014, with $45 million in tax credits available. The deadline to submit applications is Oct. 27, 2014, at 11:59 p.m. PT, after which the online application website will automatically close. The CCTC program is designed to offer a special tax incentive to encourage companies to locate, expand or retain operations in California. Effective Jan. 1, 2014, the CCTC, along with some other credits and exemptions, replaced the California Enterprise Zone program and credits.

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