The 2020-21 Spending Plan: Tax Changes

Oct 5, 2020 - Chapter  41 of 2020 (SB  1447, Bradford) created a new Small Business Hiring Tax Credit. The budget package allocates $100  million General Fund for this new credit. The credit —which is available on a first-come, first-served basis —is equal to $1,000 per each net new employee, up to $100,000 per business.
https://lao.ca.gov/Publications/Report/4270