The Tuolumne County Economic Development Authority staff will assist you in obtaining incentives for your business through the various state and regional programs outlined below.
California Competes Tax Credit
The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California. Unlike the Enterprise Zone program this program is Statewide and, thus, there are no geographic restrictions. Tax credit agreements will be negotiated by GO-Biz and approved by the “California Competes Tax Credit Committee.” For more information visit http://www.business.ca.gov/Programs/CaliforniaCompetesTaxCredit
California Research and Development Credit
The California Research Credit reduces income or franchise tax. You qualify for the credit if you paid or incurred qualified research expenses while conducting qualified research in California. You receive 15 percent of the excess of current year research expenditures over a computed base amount. You may carry over any unused amount to future years until none remains. Visit https://www.ftb.ca.gov/businesses/credits/rd/ to learn more.
Manufacturing and R&D Partial Sales and Tax Exemption
Manufacturers and certain research and developers may qualify for a partial exemption of sales and use tax on certain manufacturing and research and development equipment purchases and leases. The partial exemption applies only to the state sales and use tax rate portion. Visit https://www.cdtfa.ca.gov/industry/manufacturing-exemptions.htm to learn more.
California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA)
Provides a full sale and use tax exclusion (local included) from both state and local sales tax collection on equipment purchases for qualifying businesses that conduct qualifying activities for advanced manufacturers, manufacturers of alternative source and advanced transportation products, and manufacturers using recycled feedstock. Sales tax rates vary by jurisdiction (typically 7.5% to 8.5%) so savings can be substantial. Visit http://www.treasurer.ca.gov/caeatfa/ to learn more.
Timber Harvesting Partial Sales and Use Tax Exemption
Partial exemption from sales and use tax for sales and purchases of equipment, machinery and their parts designed primarily for off-road use in commercial timber harvesting operations. Visit https://www.cdtfa.ca.gov/taxes-and-fees/sales-and-use-tax-exemptions.htm#Exemption-for-Timber-Harvesting to learn more.
Tax Exemption for Farm Equipment
Partial exemption from the sales and use tax became available under section 6356.5 for the sale, storage, use, or other consumption of farm equipment, machinery and their parts to qualified persons for use in qualifying activities. The partial exemption also applies to leases of certain farm equipment and machinery. Visit https://www.cdtfa.ca.gov/taxes-and-fees/sales-and-use-tax-exemptions.htm#Farm-Equipment-and-Machinery to learn more.
Business Inventory Exemption
“Business inventories” that are eligible for exemption from taxation under Section 129 of the Revenue and Taxation Code include all tangible personal property, whether raw materials, work in process or finished goods, which will become a part of or are themselves items of personally held for sale or lease in the ordinary course of business. Visit http://www.boe.ca.gov/proptaxes/pdf/205.pdf to learn more.
Child Care Tax Credit
Companies who pay or incur costs for the startup of a child care program or construction of an on-site child care facility are eligible for credits against their bank and corporation tax liability. Employers may claim a credit, not to exceed $50,000, equal to 30 percent of the costs of establishing a child care program or constructing a child care facility for use primarily by their employees’ children. Also, employers may claim a credit (not to exceed $360 per dependent per year) equal to 30 percent of their contributions to a qualified child care plan made on behalf of any dependents, under age 12, of their California employees. Excess credits may be carried over to succeeding years. Visit https://www.ftb.ca.gov/forms/2011/11_3501.pdf to learn more.
California Film and Television Tax Credit Program
The California Film and TV Tax Credit Program provides $330 million annually to encourage film and television production in California. Visit http://film.ca.gov/tax-credit/ to learn more.
Pacific Gas and Electric Economic Development Rate
Pacific Gas and Electric Economic Development Rate offers eligible businesses the opportunity to lower their costs through a reduced electric rate. This rate is available for eligible customers with high energy loads that are considering locating within California, relocating from California to other states or closing their existing California operations. Savings can be from 12% – 30 % of their current electricity rate. For more information on the program visit https://www.pge.com/en_US/business/services/economic-development/rate-discounts/rate-discounts.page for more information.
Pacific Gas and Electric Incentives and Rebates
Pacific Gas and Electric offers money-saving rebates and incentives for all types of industries. Visit https://www.pge.com/en_US/business/save-energy-money/business-solutions-and-rebates/product-rebates/product-rebates.page to learn more.
Rebates are money that you can receive for energy-saving products that you’ve already purchased. If you’ve recently bought a certain type of appliance or equipment, you could be eligible for a rebate.
Incentives are payments that businesses can receive for using energy-efficient products in new projects. When you’re approved for an incentive, Pacific Gas and Electric will work with you to create a customized energy-efficiency plan that includes design advice, on-site energy audits, training workshops and more. To be eligible for an incentive, businesses must submit a complete application form and receive Pacific Gas and Electric approval before making any purchases.
Property Tax Exclusion for Solar Energy Systems
The Property Tax Exclusion for Solar Energy Systems gives a property tax exclusion for Commercial, Residential, and Industrial customers who install the following solar energy systems. For more details visit the following link http://www.boe.ca.gov/proptaxes/pdf/lta12053.pdf