Research and development expenses; tax credit available against the bank franchise tax. (HB1916)
Introduced By
Del. Martha Mugler (D-Hampton with support from co-patron Del. Hala Ayala (D-Woodbridge)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Research and development tax credits. Provides that the research and development expenses tax credit and the major research and development expenses tax credit shall be available against the bank franchise tax for taxable years beginning on and after January 1, 2021. Under current law, the credits are available only against the individual and corporate income tax. Read the Bill »
Status
01/20/2021: passed committee
History
Date | Action |
---|---|
01/10/2021 | Committee |
01/10/2021 | Prefiled and ordered printed; offered 01/13/21 21101909D |
01/10/2021 | Referred to Committee on Finance |
01/14/2021 | Impact statement from TAX (HB1916) |
01/16/2021 | Assigned Finance sub: Subcommittee #2 |
01/19/2021 | Subcommittee recommends reporting (11-Y 0-N) |
01/20/2021 | Reported from Finance (22-Y 0-N) (see vote tally) |
01/21/2021 | Read first time |
01/22/2021 | Read second time and engrossed |
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