SB 443

Bill Subjects

Abstract

Limits the tax credits for research activities each taxpayer may receive to $1,500,000 per taxable year. Requires that every qualified high technology business be registered to do business in the State and occupy a business location and address in the State where at least seventy-five per cent of the company's employees are located to be eligible to receive tax credits for research activities. Increases the amount of available certified credits from $5,000,000 per year to $15,000,000 per year. Extends the sunset date for tax credits for research activities from December 31, 2024 to December 31, 2029.