To Clients and Friends of Vertical Advisors, LLP:
The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California. Tax credit agreements will be negotiated by Go-Biz and approved by a statutorily created “California Competes Tax Credit committee”. Business owners can apply now on their own at http://www.business.ca.gov/Programs/CaliforniaCompetesTaxCredit.aspx.
Alternatively, if you need assistance in completing the application, contact us for options. The State of California has budgeted specific amounts for specific periods, so once the budget amount is allocated, there is no more money. I have attached a Q&A publication.
Please contact our office if we can be of assistance for the California credit or if you would like us to research credits for other states.
