Follow on Google News News By Tag * R D Credit * Tennessee credit * TN credit * Taxes * State Credits * State Taxes * Stimulus * Tax Refunds * More Tags... Industry News News By Location Country(s) Industry News
Follow on Google News | Tax Point Advisors Announces Newly Improved R&D Credits in TennesseeTennessee is yet another state that has recently reformed its tax credit legislation to increase its incentive pool in an effort to become more attractive to economic development as well as make businesses accountable for the incentives received
The provisions of the bill include: An expansion of the state’s $5,000-per-job tax credit, originally designed for businesses creating at least 100 new jobs, to now include businesses creating as few as 50 jobs at a reduced rate of credits Tax credits currently available for businesses opening a new headquarters facility with an initial investment of $10 million and 100 new jobs has been revised to include businesses expanding an “existing” Businesses that do receive these various tax credits and incentives are subject to audits to ensure they actually meet the criteria specified in Tennessee law. Those businesses not in compliance will be subject to a clawback, a return of the incentive dollars or tax credits provided by the state Tennessee allows “qualified business enterprises” Qualified business enterprises can include: Manufacturing Warehousing and distribution Processing tangible personal property Research and development Computer services Call centers Qualified data centers Headquarters facilities Convention or trade show facilities Repair service facilities for aircraft owned by unrelated commercial, foreign or government persons # # # Tax Point Advisors assists CPA's & their clients in identifying & capturing their maximum R&D tax credits. WE HAVE A 100% SUCCESS RATE, NEVER HAVING HAD A CLAIM DENIED. 1 (800) 260-4138, www.taxpointadvisors.com End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|