California state tax relief

The California Competes Tax Credit (CCTC) is a discretionary state tax incentive available to businesses that locate, expand or remain in California. If your business is creating well- paying jobs in California, you may qualify to receive this valuable tax credit against your company’s California tax bill. The amount of the tax credit award depends on each company’s unique set of factors, focused primarily on future capital investment, employment growth and economic impact to the state of California.

California Competes credits have been as low as $20,000 and as high as $6 million. All applicants compete against one another for a limited pool of funds with a special 25% allotment for small businesses (defined as a business with $2 million or less of gross receipts). Therefore, this program is applicable to businesses of all sizes.

Benefits you’ll love

Carrazco’s competitive strength resides in its people, methods, and tools. Our professional team is talented, credentialed and driven to succeed.

Dollar-for-dollar reduction in your state income tax liability

Increased in earnings-per-share

Improved cash flow

Credit carried forward up to 5 years

up to $6 million

MAXIMUM CREDIT AMOUNT

Key factors for eligible applicants

The following are some of the main factors that will be considered in determining eligibility and the amount of credit awarded:

  • Number of jobs created or retained in California
  • Compensation paid to employees, including wages and fringe benefits
  • Investment within California
  • Extent of unemployment and poverty in current or proposed site location
  • Incentives available from the state, local government, and other sources
  • Duration of the proposed project and duration of applicant’s commitment to remain within the state
  • Strategic importance of applicant’s business to the state, region, or locality
  • Opportunity for future growth and expansion within state

Over 100 industry leading companies love us

As a rapidly growing Company, we were beginning to see the dramatic tax consequences of our growth and good fortune. In lieu of our growing tax liabilities we engaged Carrazco and our expectations were dramatically exceeded. Through their Innovative Tax Strategies, Carrazco secured hundreds of thousands of dollars in tax savings for our Company. Needless to say, RB Spencer is proud to have a business relationship with a Firm that delivers on their promises.”

BOB SPENCER

President - RB Spencer, Inc

Carrazco - Innovative Tax Solutions thoroughly analyzed current and future tax saving opportunities as well as prior year possibilities. By implementing Carrazco's Innovative Tax Strategies our company was able to realize over $200K in tax refunds and future offsets, increasing company cash flow and dramatically improving our bottom line.

RYAN ROGERS

Lakeview Petroleum

Although we had some understanding of the tax incentives available through the Yuba-Sutter Enterprise Zone, we had never thoroughly pursued it under the impression that our Company was too small to benefit. That changed when we met the folks at Carrazco who guided us to take full advantage of the benefits we were entitled. Carrazco's business philosophy of ”No Results, No Fee” made it so we had nothing to lose and everything to gain. The process was efficiently streamlined to make things simple...the results, on the other hand, were extraordinary!

RANDY FLETCHER

Fletcher Insurance Services, Inc.

Don’t let unclaimed tax credits pass you by.