Texas businesses can now claim either a sales tax exemption or Texas franchise tax credits on qualified in-state research and development activities. The new law is effective for reports beginning Jan. 1, 2014, through Dec. 31, 2026; however, an unused credit may be carried forward for up to 20 consecutive reports. The Houston tax advisors at Doeren Mayhew provide us with these tax credit highlights to answer your questions.
As defined by the IRC section 41(d), research activity must be:
Now is the time to evaluate your eligibility and benefit from possible R&D tax credit exemptions. For more information, or to get started with early tax planning, contact Doeren Mayhewâ€™s Houston tax advisors.
A quick registration is required to view our resources.
You will only be asked to do this one time (unless you don't save your browser cookies).