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California LLC Incentive for 2021

For those struggling with income for the past year, seeking employment can be challenging. Especially for an economy with some uncertainty between COVID-19 and business shutdowns. Luckily, with Governor Newsome's new Budget Act, a beacon of hope has appeared in these dark times for new business owners. As bitter as it has been to lose so many local businesses in California, within a six to twelve month period, since the beginning of the pandemic, providing this incentive may, hopefully, bring life back into the cities decimated by this plague. According to ca.gov , "...the Budget provides...$75 million for loan loss mitigation and reducing the cost of capital for small businesses to address gaps in available federal assistance. These funds will be administered by the California Infrastructure and Economic Development Bank. The Budget also expands the $800 Minimum Franchise Tax exemption for first-year corporations to all businesses – removing a barrier to small business creati

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