Main Street Small Business Tax Credit reservation period open - Spidell

Main Street Small Business Tax Credit reservation period open


The reservation period for the 2021 Main Street Small Business Hiring Tax Credit II has started. To claim the credit, taxpayers must obtain a tentative credit reservation between November 1, and November 30, 2021.

You can apply for a reservation at: https://taxcredit.cdtfa.ca.gov/

The total amount of credit available is approximately $116 million and will be allocated on a first-come, first-served basis. As of November 4, 2021, there was $5,183,734 in tentative credits claimed, with $111,582,381 remaining.

The credit can offset either sales and use tax or income and franchise tax. Taxpayers must make this election as to which tax they will offset when applying for their reservation.