California Competes Tax Credit

The California Competes Tax Credit is a negotiated income tax credit specifically targeted for businesses conducting any of the following:

• Hiring new full-time employees in California
• Expanding company operations in California
• Relocating business operations in California
• Contemplating leaving California

California awards credits on the basis of several factors including:

• Number of full-time jobs created
• Compensation paid to employees
• Amount of new capital investment
• Business economic impact

GO-Biz will accept applications for the California Competes Tax Credit during the following periods:

Application Periods:

July 27, 2020 - August 17, 2020
Credit Available: $80 million available

January 4, 2021 - January 25, 2021
Credit Available: $80 million available

March 8, 2021 - March 29, 2021
Credit Available: $71.1 million plus any remaining unallocated amounts from the previous application periods

HCVT has successfully navigated through the California Competes Tax Credit application process to secure credits for its clients.  

Learn more about the program here. 

Tax Alerts