New Employment Credit (NEC)

Category: State Incentives, Tax Incentives

This credit is available each taxable year between 01/01/14-01/01/21 to a qualified taxpayer that hires a qualified full-time employee on or after 01/01/14, and pays or incurs qualified wages attributable to workperformed by the employee in a designated census tract or economic development area, and that receives a tentative credit reservation for that employee.

In order to eligible, the qualified taxpayer must have a net increase in its total number of full-time employees working in California, when compared to its base year of annual full-time employees.