Georgia Research & Development (R&D) credit eligible against payroll withholding taxes – 30 day and 120 day rules
Most calendar year companies that have extended their Georgia income tax return already know whether or not they are able to use the Georgia R&D credit to offset 50% of the entity’s taxable income. If the company knows that they cannot use the Georgia R&D...
President Calls for Permanent R&D Tax Credit and 17% ASC Rate
Under the President's New 2014 budget, the budget calls for making the R&D tax credit permanent so as to allow companies to plan R&D expenditures and associated credit with more certainty; moreover, the plan calls for increasing the alternative simplified...
Union Carbide R&D Tax Credit Case will not be heard by the Supreme Court
On March 18th, 2013, the Supreme Court declined to review a Second Circuit decision, affirming the Tax Court decision, finding that the taxpayer was entitled to a R&D tax credit for only additional supplies that were used to perform research. The Union Carbide...
IRS Issues Chief Counsel Advice on Section 199 Deduction
The IRS released a Chief Counsel Advice (CCA) memo on 3/29/13 on whether a publisher of books can claim a Section 199 domestic production deduction for its activities of producing books. However, the IRS segregated the activities into all activities up to the printing...
Urgent due date for applying for the Virginia R&D tax credit is April 1
On March 28, 2011 Virginia Governor Robert McDonnell signed into law a new Research & Development (R&D) tax credit for companies conducting research in Virginia. The R&D credit is effective for tax years on or after January 1, 2011 and before January 1,...
New Florida R&D Tax Credit Enacted
Florida enacted a Research and Development (R&D) tax credit for tax years beginning on or after January 1, 2012 for qualified business enterprises with qualified research expenses in the state of Florida. The Florida R&D credit is generally 10% of the...
Georgia R&D Credit Update
Many Georgia companies have previously not been able to take advantage of the Georgia R&D tax credit either because they were in net operating losses or maximized the ability to use other Georgia tax credits. The Georgia R&D credit is the last credit that...
Warner Robinson’s Newest Team Member – Ken Schuckers
Warner Robinson is very pleased to announce the arrival of Kenneth Schuckers, CPA to the WR team as our new Managing Director. Ken brings over 22 years of corporate tax experience and has spent the last 13 years primarily focused on R&D tax credits and other...
R&D Tax Credit Extension Passed – 2012 and 2013
On Tuesday, Congress passed a two year R&D tax credit extension, retroactive for 2012 and through December 31, 2013 as part of the fiscal cliff deal. The R&D credit had little substantive changes, for example, no increase in the alternative simplified credit...
R&D Credit Extension – Awaiting Fiscal Cliff First
Although there has not been much news of action on the numerous expired tax provisions, including the R&D tax credit, Sen. Chuck Grassley (R-Iowa) stated this week that the Senate would wait to move on a $205 billion tax extenders package while President Obama and...
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