Final regulations were published on October 4, 2016 relating to the research credit for internal use software development. These final regulations apply a majority of the rules proposed in January of 2015. The final regulations should provide guidance to [...]
The Minnesota form for the Credit for Increasing Research Activities, Schedule RD, has changed effective for the 2015 tax year. The current method of calculating the Minnesota credit has not changed. However, an entirely new section of the form, [...]
Amy Moon has joined Hull & Knarr as Executive Director. With over 20 years combined experience at Ernst & Young and Larson Allen where she focused on research credit incentives, Amy brings an expertise that includes leading R&D studies [...]
The White House announced that President Obama on Friday, December 18, 2015, signed into law H.R. 2029, the “Consolidated Appropriations Act, 2016.” This legislation combines and includes the tax provisions of the “Protecting Americans from Tax Hikes Act of [...]
Read the latest from Washington here.
Check out the press release here.
Delaware will soon allow businesses with less than $20 million in average revenue over the prior 4 tax years to claim a state research tax credit equal to 100% of the Federal R&E tax credit. Currently all companies are [...]
Massachusetts Gov. Deval Patrick has signed legislation that both simplifies and increases the R&E credit over the next decade. The change provides for a calculation methodology similar to the Federal Alternative Simplified method. This method will be available for [...]
On June 2nd the IRS issued temporary regulations (T.D. 9666) allowing for the election of the Alternative Simplified calculation method on an amended return. The temporary regulations were also simultaneously issued as the final proposed regulations. Now taxpayers will [...]
Looking to attract and keep more innovative companies, Hawaii goes refundable for qualifying research activities. Read the legislation here.