We wanted to make sure you were aware of a potential California credit that just opened up that you might qualify for. If you do qualify, we recommend filing ASAP as the credit is on a first come first served basis and will go fast.

Credit only applies to California small businesses that meet the following qualifications:

Employed 100 or fewer employees as of December 31, 2019, and

Suffered a 50 percent decrease or more in income tax gross receipts (generally, all income less returns and allowances), when comparing second quarter 2020 to second quarter 2019.

Employers may receive a credit of $1,000 for each net increase in qualified employees from April 1, 2020 through June 30, 2020, compared to July 1, 2020 through November 30, 2020

For more information, see below or contact your Linkenheimer CPA:

https://www.cdtfa.ca.gov/taxes-and-fees/SB1447-tax-credit.htm