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|January 18, 2021|
California opens Small Business Tax Credit
SACRAMENTO – (INT) The California Franchise Tax Board (FTB) is taking applications for the Small Business Tax Credit allowing up to $100,000 per business.
An eligible small business can receive $1,000 in credit for each net new hire that occurred during the second half of 2020, up to $100,000 per business.
This tax credit can be used against personal and corporate income tax liabilities OR sales and use tax liabilities from the 2020 tax year.
Qualifying small businesses need to apply to the California Department of Tax and Fee Administration (CDTFA) before January 15, 2021.
Story Date: December 2, 2020