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Category Archives: GO-Biz

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 […]

GO-Biz Announces FY 2016/17 California Competes Rounds

California’s Governor’s Office of Business and Economic Development has announced the dates for three new rounds of California Competes tax credits. The application rounds will take place: 1. July 25, 2016, through August 22, 2016 ($75 million available) 2. January 2, 2017, through January 23, 2017 ($100 million available) 3. March 6, 2017, through March, […]

A California Competes Tax Credit Committee Member Offers Insight Into The Voting Process

The Sacramento Business Journal interviewed Madeline Janis, a member of the California Competes Tax Credit Committee about some of her recent stances on tax credit applications:

Ryan, Inc. Wins Suit Against GO-Biz

According to the Sacramento Business Journal: A Sacramento judge has thrown out a state rule that bars site-selection consultants from claiming a share of incentives awarded by the California Competes program. Sacramento Superior Court judge Timothy Frawley on Thursday sided with a Dallas firm that challenged the rule. That firm, Ryan, sued the Governor’s Office […]

California Competes Fiscal Year 2015-2016 Application Dates Announced

GO-Biz has announced the application deadlines for the next year of California Competes Credits: July 20, 2015, through August 17, 2015 ($75 million available) January 4, 2016, through January 25, 2016 ($75 million available) March 7, 2016, through March 28, 2016 ($50.9 million plus any remaining unallocated amounts from the previous application periods) Decisions for […]

California Competes Credit Update

GO-Biz updated its FAQ for the California Competes Credit on April 29. Of interest is their update to the table listing historical credit to investment ratios for applications accepted into the second round of the application process: In addition, the have posted a full listing of all credit recipients with links to their respective contracts.

BNA’s Laura Mahoney on the California Competes Credit

As always, Laura Mahoney provides detailed clarity on California’s tax incentive programs: Demand for a new tax credit aimed at business expansion in California continues to outstrip supply as state regulators iron out details for awarding the credit and recouping it if businesses don’t live up to their promises. About 250 businesses asked for $289 […]

BNA Incentives Watch on California Competes

BNA’s “Incentive Watch” on the next round of California Competes credit and the ongoing legal controversy regarding regulating consulting fees: As the deadline looms for another round of California Competes tax credit applications, demand is certainly going to outpace the supply of available credits. With recently issued final regulations for the credit, taxpayers have new […]

California Competes Credit Updates

GO-Biz updated its FAQ for the California Competes Credit on Feb. 6. Among the changes is an updated table of investment to tax credit ratios that were accepted into the second round: In addition, final regulations were approved on 2/5/2015, and a final Statement of Reasons was posted to the website as well.

GO-Biz Received 253 Applications for Latest Round of California Competes Tax Credit

California’s GO-Biz just sent out the following press release: Sacramento, Calif. – Building on the state’s effort to help businesses expand and create new jobs, the Governor’s Office of Business and Economic Development (GO-Biz) today announced that it received a total of 253 applications with a combined tax credit request of $289 million for the […]

GO-Biz Approved 56 Out Of 56 Cal Competes Credit Applications

On January 15, the California Competes Tax Credit Committee met to make final determinations on the second ever round of California Competes applications. All 56 agreements considered were awarded for a total of about $31 million. A 57th applicant who had made it through the first round and was originally on the agenda for consideration […]

New Round of California Competes Opens Today

The largest ever California Competes tax credit application round starts today with $75 million available. This is the second of three rounds anticipated for the 2014/2015 fiscal year. GO-Biz recently updated their FAQ with updated information about the “ratio” threshold for applications to make it into the second round: The ratio measures the amount of […]

FTB Notice Regarding Procedures for Reviewing Books of California Competes Recipients

The FTB has posted a notice explaining its procedures for reviewing the books of taxpayers who are awarded California Competes Credits.

California Competes Tax Credit Update

On October 31, GO-Biz released a set of emergency regulatory changes which can be found here. For the application period ending October 27, GO-Biz received 286 applications. According to their press release: For fiscal year 2014-15, GO-Biz is authorized to award $151.1 million in tax credits of which 25% ($37.7 million) is reserved for small […]

Sacramento Business Journal on GO-Biz Consulting Fee Regulations

The Sacramento Business Journal examines the recent regulatory limitations GO-Biz has placed on consulting fees: Is the Brown administration hurting California by banning commissions for consultants who help companies win tax credits? Some consultants themselves disagree on that question. In August, the Governor’s Office of Business and Economic Development prohibited site-selection consultants from taking a […]

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