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FL S0886
Bill
AI Summary
- Increases the combined total annual tax credit cap for all business enterprises from $9 million to $20 million
- Changes the application filing deadline from "on or after March 20" to "on or after March 20 and before March 27" for qualified research expenses from the preceding calendar year
- Revises credit allocation from first-come, first-served basis to prorated allocation among all applicants when total credits exceed $20 million
- Maintains the 10 percent tax credit rate on excess qualified research expenses over the base amount, with reduced maximums for newer businesses
- Takes effect July 1, 2015
Legislative Description
Research and Development Tax Credit
Last Action
Died in Commerce and Tourism
5/1/2015
Committee Referrals
Commerce And Tourism2/26/2015
Full Bill Text
No bill text available