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Business Incentive Programs

California Competes Tax Credit

Available to businesses of all sizes to provide negotiated income tax credits to offset the costs of hiring full-time employees in California. 25% of all credits dedicated to small businesses with annual gross up to $2 million. Administered by the Governor's Office of Business and Economic Development (GO-Biz), this program is making millions of dollars available annually through a competitive application process. 

>> Learn more at www.business.ca.gov

 

Manufacturing and R&D Equipment Tax Exemption

An exemption for sales and use tax on certain manufacturing and research and development equipment purchases and leases is administered through the California Board of Equalization. It is targetted to businesses engaged in specific activities, concentrated in biotechnology and scientific fields.

>>Learn more at www.boe.ca.gov

 

New Employment Hiring Tax Credit (NEC)

The New Employment Credit (NEC) is available for each taxable year beginning on or after January 1, 2014, and before January 1, 2021, to a qualified taxpayer that hires a qualified full-time employee on or after January 1, 2014, and pays or incurs qualified wages attributable to work performed by the qualified full-time employee in a designated census tract or economic development area, and that receives a tentative credit reservation for that qualified full-time employee.

>>Learn more at www.ftb.ca.gov

 

More Incentives

The Governor's Office of Business and Economic Development maintains a comprehensive listing of links to incentives provided by the State with the goal of helping businesses stay and expand in California.

>>Learn more at www.business.ca.gov

 

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