The Governor’s Office of Business and Economic Development, better known as Go-Biz, administers the California Competes Tax Credit (CCTC).
The CCTC is an income tax credit available to businesses that want to come to California or stay and grow in California. GO-Biz negotiates the tax credit agreements, which are approved by a statutorily created “California Competes Tax Credit Committee,” consisting of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, one appointee each by the Speaker of the Assembly and Senate Committee on Rules.
Sacramento County’s Office of Economic Development offers assistance to businesses that need help applying or simply want to learn about the program. There are no fees to apply. Therefore, business owners should not shy away from learning about a tax-savings-program that could potentially benefit their companies.
To learn more contact Linzie Fukushima at (916) 874-7414.