2021 California Tire Workshop Series and Presenters

California Competes Tax Credit Program (CCTC) • Credit against income tax due to Franchise Tax Board • Non-refundable / 6 tax year carryover • Remaining Application Period - 2021: • March 8, 2021 – March 29, 2021 ($71.1 million plus any remaining unallocated amounts from the previous application periods) • Accountability: • Tied to achieving contractual (hiring/investment) milestones • NEW BUDGET CONSIDERATIONS – TO BE DETERMINED: • Increase the amount of credit available by $90M in both 2020-21 and 2021-22 (Total of $270M per fiscal year) • $250M grant program to increase business investment in California. Targeted focus https://business.ca.gov/california-competes-tax-credit/