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Life After Connecticut’s Reduction of State Research Credit

Posted on by Will Chang
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On June 3rd the Connecticut legislators passed a tax package that severely reduced the amount of state research credit being offered to companies from 70 percent to 50 percent. This comes along with other changes that includes a 15 year limit on utilization (the current limit on the federal credit is 20 years). Recently, Boehringer Ingelheim, a pharmaceutical company based in Germany, released an ...
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Washington Fails to Renew State Research Tax Credit

Posted on by Alex Pak
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When Washington's state research tax credit expired at the end of 2014, it felt as if renewal was just around the corner. After all, with more and more pressure from other nations offering better tax shelters and lower labor costs, "brain drain" was, is and will be one of the biggest obstacles to growth across a wide spectrum of industries. Lawmakers released the state budget on Monday and the cre...
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Microsoft to offer $500K and HoloLens Dev Kits to Developers

Posted on by Helen Han
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Microsoft announced that they are looking for proposals for academic research on possible applications for their new holographic computing platform, "HoloLens". The move is a strategic initiative to bolster the software development support for what is a bleeding edge consumer technology product. While demos do show the amazing potential of the product, most applications are limited to games and vi...
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House Passes Act to Repeal Medical Device Tax

Posted on by Jennylynn Delemios
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Last month, the U.S. House of Representatives passed H.R. 160 to repeal the 2.3% medical device excise tax passed as a part of the healthcare reform platform enacted by the Obama administration. The U.S. medical device industry is hopeful that reform of this tax might remove the inherent limits on R&D spending that were a natural evolution of the initial tax that was passed. The effect of t...
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Louisiana Research Credit Gets Nerfed

Posted on by Alex Pak
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On July 1st one of the most generous research and development state tax credit programs suffered a huge blow. Louisiana's Department of Revenue released a bulletin (Lousiana DoR) that made a huge change to the way the credit was awarded by making it nonrefundable. Essentially, a refundable credit means even if there wasn't any tax liability to offset, the taxpayer would be awarded the full amount ...
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