Dear California Competes Tax Credit (CCTC) stakeholders,
Just a reminder, the deadline to submit CCTC applications for this fiscal year is 11:59 p.m. PDT on April 14th. The online application website will automatically close once this deadline has passed. On April 14th GO-Biz staff will be available to provide technical application assistance until 7 p.m.
Please note the CCTC is only applicable for tax years beginning on or after January 1, 2014. Taxpayers who file their tax returns on a year fiscal year basis and who have not started their 2014 tax year are unable to apply for the credit until their 2013 tax year has ended. Future application periods will be announced prior to July 1st of each year.
Our frequently asked questions (FAQs) have recently been updated. Please review these FAQs before submitting your final application. If you have already submitted an application, you may still log into the system to make changes prior to the April 14th deadline. The FAQs, worksheets, and presentation materials can be accessed here.
As a reminder, the Aggregate Employee Compensation Package is an estimate of the total projected salaries of the new full-time employees hired in California by a business over a period of 5 tax years and is compared to the “base year” of existing full-time employees employed in California by the business (both determined on an annual full-time equivalent basis). Please click here for the worksheet to determine the Aggregate Employee Compensation. If you are submitting a “retention” application, we will ask you in Phase 2 for the compensation information for the jobs being retained in California.
Applicants whose applications are moved into the Phase II process will be notified via email no later than April 25, 2014.
If you have any questions or issues with the application, we are here to help.
Email: CalCompetes@gov.ca.gov
Call: (916) 322-0694 or (877) 345-4633
Apply: https://www.calcompetes.ca.gov
Other business assistance: http://www.business.ca.gov