The CCTC program provides California income tax credits to taxpayers in exchange for investments in assets/new jobs in California (over a projected 5 year program). These tax credits are available at the entity level (and the ownership level in flow-through structures).
- Jobs – 10 or more new jobs in CA projected over a 5 year period
- Investments – $100k or more in asset purchases/leases in CA projected over a 5 year period
- Tax – paying tax at entity level or owner/shareholder level currently or projected over next 5 years
We have negotiated these CCTC agreements for our clients in the past two years and have secured over $4M in tax credits for them.
New Application Period
The next application period is currently open and ends on 8/22/16. There are $75M of CCTC tax credits available to taxpayers during the current application period.
Please let us know if you would like to discuss in further detail.