How much CCTC is available for my company?
Unlike calculation-based tax incentives, California Competes (CCTC) applicants vie against one another from a limited pool of available funds. Awards are granted on a case-by-case basis, with applicants requesting award amounts and negotiating final credit agreements with GO-Biz. This process begins with an online application, which must be completed by the applicant or an authorized representative. Once the online application is submitted to Go-Biz, it’s subject to a two-phase review process. Phase one is automated and covers the quantitative cost-benefit analysis.
The most competitive applications (those with the lowest tax-credit request amounts and highest aggregate employee compensation and investment packages) move on to phase two. During the second phase, the committee performs a qualitative evaluation of the business’ job-creation benefits and economic importance to the state. Though phase two rests on a foundation of economic modeling, it requires companies to present a credible and compelling case the committee can quickly see and support.
To forecast the amount of tax credit for your organization, please contact Phillip Herrera today.