Amends the definition for small business in GS 105-129.50(10) to include businesses with annual receipts up to $2.5 million (was, up to $1 million). Amends GS 105-129.55(a) to increase the tax credit allowed to small businesses to 5% (was, 3.25%) and the tax credit allowed for university research to 25% (was, 20%). Effective for tax years beginning on or after January 1, 2013.
ENHANCE R&D TAX CREDIT FOR SMALL BUSINESSES.
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| View NCGA Bill Details(link is external) | 2011-2012 Session |
TO ENHANCE THE TECHNOLOGY DEVELOPMENT TAX CREDITS FOR SMALL BUSINESSES.Intro. by Wray.
Status: Ref to the Com on Commerce and Job Development, if favorable, Finance (House Action) (May 24 2012)
Bill History:
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Wed, 23 May 2012 House: Filed(link is external)
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Thu, 24 May 2012 House: Passed 1st Reading(link is external)
H 1117
Bill Summaries:
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Bill H 1117 (2011-2012)Summary date: May 23 2012 - View Summary
View: All Summaries for Bill