Category Archives: NEC
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, […]
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 […]
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 […]
The FTB has made numerous updates to its New Employment Credit page.