Truckee workshop to focus on California Competes Tax Credit program | SierraSun.com

Truckee workshop to focus on California Competes Tax Credit program

Special to the Bonanza

The Aug. 2 Knowledge Bites workshop in Truckee will focus on the California Competes Tax Credit program through the Governor’s Office of Business and Economic Development.

This program has approximately $200 million in tax credits available during the 2016-17 fiscal year for businesses that want to expand in or relocate to California.

The next application period began July 25. The Aug. 2 workshop and the program are free and available to businesses of all sizes throughout the state.

The California Competes Tax Credit (CCTC) program is an income tax credit available to businesses that want to relocate to California or stay and grow in California.

Any business can apply for the CCTC and there are no geographic or sector-specific restrictions that impact eligibility. In addition, 25 percent of the total credits available each fiscal year are specifically reserved for small businesses. Award of a tax credit offsets taxes owed to the Franchise Tax Board only.

The application is available at calcompetes.ca.gov. There is no fee to apply.

The Aug. 2 event takes place from 9-10:30 a.m. at Truckee Tahoe Airport, 10356 Truckee Airport Road. You should reserve your spot by July 29. Do so at TruckeeChamber.com.