Now hiring: California offers credits to small businesses
Last updated 9/9/2020 at 9:56pm
Sep 09, 2020 2:47 PM
SACRAMENTO, Calif. (AP) - With millions of people out of work in California, Gov. Gavin Newsom on Wednesday signed a law giving tax breaks to small businesses that hire more workers by Dec. 1.
The law will reduce how much state taxes some small businesses owe if they have more employees working between July 1 and Dec. 1 than they did between April 1 and June 30. Businesses of 100 employees or less would get a $1,000 credit for the net increase of each new worker.
It only applies to businesses that have lost at least half of their revenue from April to June this yea...