Support for R&D for Small Businesses
July 29, 2014
Publication| Real Estate Services
On July 15, 2014, Governor Jack Markell signed into law House Bill No. 318. The new law targets small company start-ups by directing additional tax credit support to businesses with less than $20,000,000 in receipts. These businesses would be eligible for a research and development tax credit of up to 100 percent of the corresponding federal credit, while larger companies would continue to qualify for up to 50 percent. The legislation effectively doubles the state’s research and development tax credit for these small businesses. This legislation is intended to continue Delaware’s standing as one of the top states in the “New Economy” by increasing opportunities for the state’s entrepreneurs to innovate and grow.