Main Street Small Business Tax Credit II Provides COVID Financial Relief
On November 1, CDTFA will begin accepting applications for the Main Street Small Business Tax Credit II through its online reservation system. Credit reservations will be allocated on a first-come, first-served basis. Businesses can use the credits to offset either their income taxes or their sales and use taxes when filing their returns.
The reservation system will be available through November 30. Qualified small business employers may apply to reserve $1,000 per net increase in qualified employees, not to exceed $150,000. Qualified small businesses will be able to offset their income taxes or their sales and use taxes with the credit when filing their returns. Get details here