Novato Businesses Encouraged to Apply for State Tax Credits
The City of Novato encourages Novato businesses to apply for the California Competes Tax Credit which is an income tax credit available to businesses who invest and create new job in California. The state will be accepting applications from January 2, 2018 through January 22, 2018 for $100 million in tax credits. And again, from March 5, 2018 through March 26, 2018 for $55.4 million plus any unallocated amounts left over from previous application periods. Any business can apply for the tax credit and 25% of the credits will be reserved for businesses with revenues of less than $2 million.