Keeping California's economy competitive

January 29, 2015

Dear Friends,

Know of a small or large business in our community that might benefit from a tax credit? Then help spread the word about the California Competes Tax Credit, an income tax credit available to businesses that want to come to California and stay and grow in California.

The purpose of the credit is to attract and retain high-value employers in industries with high economic multipliers, and with good employee wages and benefits. It is available statewide to all industries and does not include any geographic or sector-specific restrictions.

Twenty-five percent of the total credits available each year are specifically reserved for small businesses with gross receipts, less returns and allowances, of greater than $0 but less than $2 million in the prior tax year.

Businesses may apply for the tax credit online. The agreements will be negotiated with the Governor's Office of Business and Economic Development (GO-Biz). The deadline for the second round of review is Feb. 2, 2015. A third and final application period will open from March 9 through April 6, 2015.

It is a privilege and an honor representing you in the California State Senate.

Sincerely,

Bob Wieckowski
Senator, 10th District