Category Archives: GO-Biz
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, […]
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:
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 […]
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 […]
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.
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’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 […]
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.
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 […]
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 […]
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 […]
The FTB has posted a notice explaining its procedures for reviewing the books of taxpayers who are awarded California Competes Credits.
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 […]
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 […]
The Sacramento Business Journal reports that the Dallas-based tax consulting firm Ryan is suing GO-Biz over newly enacted emergency regulations that seek to limit the fee arrangements allowable for the California Competes Credit: In August, the agency known as GO-Biz placed on ban on commissions received by consultants for aiding companies in securing a California […]