State Tax Credits

Applications Now Being Received for California Competes Tax Credit

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The California Competes Tax Credit (CCTC) is an income tax credit that is available to companies for a project associated with staying or growing in California. The tentative amount of credits allocated to Go-Biz are $30M for FY 2013-14, $150M for FY 2014-15 and $200M for each FY 2015-16 and 2017-18. Small businesses with gross receipts of less than $2M during the previous taxable year have been specifically allocated to receive 25% of the total credits available each year.

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Cybersecurity Investment Incentive Tax Credit

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Beginning January 1, 2014 Maryland provides a refundable tax credit equal to 33% of an eligible investment to Qualified Maryland Cybersecurity Companies (QMCCs) that seek and secure investment from an in-state or out-of-state investor.

The program appropriations for FY 2014 are $3 million, with a minimum appropriation per year through July 1, 2019 of $2 million. The maximum allowable credit is $250,000 per QMCC and cannot equate to more than 15% of the total program appropriation in a single fiscal year.

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