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You are here: Home / Tax Agency News / New California College Access Tax Credit

New California College Access Tax Credit

The College Access Tax Credit (CATC) is a new state tax credit for taxpayers who make authorized contributions of money to the CATC Fund. Senate Bill 798, which the governor recently signed, established the credit for both personal and corporate income taxes under California Revenue and Taxation (R&TC) Code Sections 17053.86 and 23686.

The CATC is available for taxable years 2014-2016. The total amount that CEFA can allocate for the CATC each year is $500 million. To claim the credit, a taxpayer must make a contribution to the CATC Fund administered by the California Educational Facilities Authority (CEFA). Taxpayers must receive a certificate from the CEFA documenting the amount of the contribution and the credit amount in order to claim the credit on their state income tax return. The amount of the credit allocated and certified by the CEFA for a taxpayer for each taxable year is:

60 percent of the amount contributed by the taxpayer for the 2014 taxable year.
55 percent of the amount contributed by the taxpayer for the 2015 taxable year.
50 percent of the amount contributed by the taxpayer for the 2016 taxable year.

Taxpayers may claim the CATC on their California tax return. They may also be able to take a charitable deduction for the contribution to CATC Fund on their federal tax return. Any charitable deduction for contributions made to the CATC Fund claimed on a federal tax return must be added back as a state adjustment on the California tax return, as taxpayers are not allowed a deduction and a credit for the same contribution.

CEFA began accepting applications for an allocation of the credit on November 3, 2014. Additional information on making a CATC contribution is available on CEFA’s website.

The California Board of Accountancy has a web page entitled “How to Select a CPA”.

The firm of Alan F. Kingsley, CPA is licensed by the California State Board of Public Accountancy.

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IRS Circular 230 Disclosure

31 CFR Part 10, section 10.35, requires me to notify you that any tax advice in this electronic forum (including any attachments, postings, pages or links) was not intended or written by me to be used, and cannot be used by you (or any other taxpayer), for the purpose of (i) avoiding penalties under the Internal Revenue Code of 1986, as amended, or (ii) promoting, marketing or recommending to another party any tax-related matter addressed herein.
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IRS Circular 230 Disclosure

31 CFR Part 10, section 10.35, requires me to notify you that any tax advice in this electronic forum (including any attachments, postings, pages or links) was not intended or written by me to be used, and cannot be used by you (or any other taxpayer), for the purpose of (i) avoiding penalties under the Internal Revenue Code of 1986, as amended, or (ii) promoting, marketing or recommending to another party any tax-related matter addressed herein.
The California Board of Accountancy has a "Consumer Assistance Booklet" describing such topics as "How Do I Select a CPA" and "What Services are Provided by CPAs?" It's available here in pdf format.

The firm of Alan F. Kingsley, CPA is licensed by the California State Board of Public Accountancy.

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Tax Links

  • AICPA Tax Information
  • California Employment Development Department
  • California Guide to Reporting Out-of-State Purchases
  • California State Board of Equalization
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  • Employer Registration – California Employment Development Department
  • Employer Registration – Internal Revenue Service [for Employer Identification Numbers also]
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  • New California College Access Tax Credit
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  • What’s New for Filing 2017 Tax Returns [CA Franchise Tax Board]
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