California Creates New Tax Credit For Small Business Hiring

California small businesses that lost at least half their gross receipts at the height of the pandemic can get a $1,000 tax credit for every full-time employee they hire by the end of November.

Gov. Gavin Newsom (D) signed S.B. 1447 by Sen. Steven Bradford (D) on Wednesday, creating a new credit for any business that had fewer than 100 employees before the pandemic began and saw its gross receipts fall 50% in the second quarter of this year compared with the same quarter in 2019.

• Newsom asked lawmakers to create the credit program ...