Troubled multi-level fashion marketing retailer LuLaRoe Inc. is giving up a $6.4 million California income tax credit awarded in 2017 because it can’t fulfill its promises to create jobs and expand its footprint in the state.
The award is one of 60 totaling $39.9 million the California Competes tax credit program pulled back Thursday from companies that voluntarily said their plans have changed or that breached their contracts with the Governor’s Office of Business and Economic Development. The credit program’s goal is to reward companies for job creation and investment in the state.
About half the companies awarded credits through ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.