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Category Archives: NEC

LAO Reveals Break in Revenue Neutrality Promise

In a response to Governor Brown’s May revision of California’s budget, the Legislative Analysts Office revealed that the tax incentives enacted in 2013 to replace the Enterprise Zone program have failed to live up to their promise. A press release from Governor Brown’s office date July 11, 2013 stated: “By providing a hiring tax credit […]

Update on the California New Employment Credit (NEC)

About a year ago, we reviewed the status of the business incentive programs that California enacted as replacements for the Enterprise Zone program: When California did away with its enterprise zone tax incentive program in 2013, it replaced that program with three new tax incentives: (1) the California Competes tax credit, (2) a partial sales […]

California New Employment Credit Update

We recently reviewed the status of California’s business incentive programs that replaced the Enterprise Zone program in 2013. We noted that the New Employment Credit (NEC) seemed to be falling significantly short of expectations. The legislation included a requirement that the FTB report to the Legislature each year on the performance of that credit and, […]

Performance Review For California’s Enterprise Zone Replacements

When California did away with its enterprise zone tax incentive program in 2013, it replaced that program with three new tax incentives: (1) the California Competes tax credit, (2) a partial sales tax exemption on manufacturing and R&D related equipment, and (3) the New Employment hiring tax credit (NEC). At the time, a press release […]

Governor Brown Designates Three Pilot Areas for New Employment Credit

From the Governor’s website: SACRAMENTO – Building on efforts to grow California’s economy and help businesses create jobs, Governor Edmund G. Brown Jr. today announced new tax incentives for employers hiring workers in Fresno, Merced and Riverside. “The state’s economy is steadily improving and more than a million Californians are back to work after the […]

FTB New Employment Credit Updates

The FTB has made numerous updates to its New Employment Credit page.

FTB Relaunches DGA Mapping Tool

The FTB has relaunched its online mapping tool of Designated Geographic Areas for the New Employment Credit: http://maps.gis.ca.gov/gobiz/dga/.

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