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Louisiana Governor Bobby Jindal Signs R&D Tax Credit Extension Bill Through 2019

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alliantgroup Applauds His Continued Commitment to Small and Medium Businesses

Governor Bobby Jindal has signed a bill that extends the state Research and Development tax credit for six additional years. The bill gives tax credits of up to 40% for emerging firms and 8% credits to companies with more than 100 employees. While visiting alliantgroup headquarters in Houston, TX on March 9, Governor Jindal thanked alliantgroup for being on the forefront of helping many Louisiana businesses thrive and keep jobs by saving them hundreds of thousands of dollars through such
tax credits and incentives.
Governor Jindal stated “Research and development work is the lifeblood of innovative companies. By extending Louisiana's R&D Tax Credit through 2019, we're sending a signal that we want to encourage companies to spend more on innovation and to find new ways to be more competitive in the marketplace. By focusing as a state on research and development, we're helping to create a new generation of jobs and greater opportunity for Louisiana's economy.”
In the past three years alone, more than 200 companies that have utilized the R&D credit and approximately $30.6 million in credits have been obtained; spurring $483.4 million in R&D spending in the state. Since 2007, the R&D tax credit has supported more than 5,000 jobs in Louisiana. For every $1 issued in tax credits, some $34 in overall economic output is generated in the state, as estimated by Louisiana Economic Development Bureau. alliantgroup CEO Dhaval Jadav remarked “We are pleased that alliantgroup has become the industry leader in helping small businesses' in Louisiana obtain millions of dollars in tax credits. Through our strong alliances and relationships with CPA's as well as Business Owners, we look forward to cultivating continued growth for our clients in the future”
For more information on how this powerful tax credit can help your company claim cash infusing benefits and incentives, please contact Andy Gerstenhaber at 504.258.0243 or 713.877.9600 or visit our website at www.alliantgroup.com