According to former Senior Counsel to the U.S. Senate Finance Committee and alliantgroup National Managing Director, Dean Zerbe, 2016 is shaping up to be a banner year for startups—and, CEOs and investors of innovative software and technology companies have Congress to thank.
In his article appearing in the Austin Business Journal, “Changes to the R&D Tax Credit mean big savings for startups,” Zerbe reviews the impact of last month’s bipartisan tax deal in regards to the Research and Development (R&D) Tax Credit. As Zerbe notes, not only was the credit made permanent for the first time in its 34-year history, the credit includes two major expansions specifically designed for the benefit of startups and small businesses.
For Austin’s budding software and technology market, the new startup provision should be of particular interest and will allow for many of the area’s new and innovative companies to claim the R&D Tax Credit for the very first time.
Contact us today for more information on the new legislation and the recent expansions made to the R&D Tax Credit.