by admin | Sep 21, 2011 | Blog
On April 1, 2010, Minnesota Governor Tim Pawlenty signed legislation expanding the research credit for qualified R&D activities in Minnesota. For tax years beginning after December 31, 2009, the Minnesota research tax credit provides the following benefits: The...
by admin | Aug 12, 2011 | Blog
In an interesting turn of events, our blog entry below on limiting the California R&D credit to companies that can show sales of tangible personal property (Legal Division Guidance 2011-06-01), the Franchise Tax Board has withdrawn this guidance. This means...
by admin | Aug 12, 2011 | Blog
The Office of Tax Policy, Department of Treasury issued a very informative summary this year outlining the President’s approach to the research credit. In the attached document, the letter reviews proposals from President Obama’s administration on making...
by admin | Jun 19, 2011 | Blog
The California R&D tax credit differs from the Federal R&D credit in a notable way – for California purposes, sales of property are included in the gross receipts calculation, but services income, rent, lease income, interest and other non-property...
by admin | Jun 18, 2011 | Blog
The IRS last week published new final regulations relating to the Alternative Simplified Credit or ASC under Section 41(c)(5) which has been around since 2006. This calculation avoids having to go back to the 1980s base years and instead uses a rolling prior 3 year...
by admin | Feb 25, 2011 | Blog
In the first Tax Court case opinion on Section 199 deduction activities, the Tax Court today sided with the taxpayer in Gibson & Associates, Inc. v. Commissioner, 136 T.C. No. 10 (February 24, 2011). The taxpayer undertook three types of construction projects in...
