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The Louisiana Research & Development Tax Credit Program has undergone a major revision as a result of House Bill No. 790, enacted as ACT No. 477 on July 9, 2009. The changes make the credit refundable and significantly increase the credit amount for companies with fewer than 50 Louisiana employees. Plus, because all credits, once certified by the state, may be applied to a current-year return, taxpayers may go back as far as 2003 without issues with the statute of limitations. The new rules are effective for all R&D credit applications filed on or after 08/01/09, regardless of the tax year for which the credit was generated. [more]
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