Which of the following statements regarding the California Competes Tax Credit is true?

Select one:

a.

The credit is refundable

b.

The credit can be carried forward for ten years

c.

Tax credit agreements will be negotiated by GO-Biz but Go-Biz does not have the authority to review certain businesses books and records

d.

If agreed upon milestones for a taxable year are not met, the credit is not earned for that taxable year

e.

All of the above statements are true