Many California employees and employers faced challenges as the coronavirus impacted their workplaces. During this difficult time, business owners had to make tough decisions in order to stay afloat. Ultimately, this led to many lay-offs in the state. With rising unemployment rates, the California government decided to take action. In order to remedy this economic and unemployment setback, Governor Gavin Newsom enacted Senate Bill 1447, the Small Business Hiring Tax Credit, on September 9, 2020. This bill allows any qualified employer credit against personal income and/or corporate taxes for each taxable year beginning on or after January 1, 2020.
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