GO-Biz Releases California Competes Tax Credit Draft Proposed Regulations

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On November 27, 2013, the Governor’s Office of Business and Economic Development (“GO-Biz”) released draft proposed regulations on the recently enacted California Competes Tax Credit, and has scheduled workshops throughout California for public comment.

On July 11, 2013, Governor Brown signed Assembly Bill (“AB”) 93 into law, which provides for various tax credits, including the California Competes Credit (“CCC”) – a credit against the income and franchise tax.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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