iMark Blog

Texas Legislature Passes R&D Tax Credits

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The below is reprinted from an article in the Houston Business Journal. 

The Texas Legislature passed House Bill 800, which creates incentives to attract research and development investment and could lead to the creation of thousands of jobs in the state.

“HB 800 dramatically enhances our state’s ability to attract R&D investment,” Rep.Jim Murphy, R-Houston, said in a statement. “Relocation starts with R&D, then the design, production, sales distribution, accounting and finance departments follow.”

Murphy authored the bill.

The bill offers companies a choice between a franchise tax credit and a sales tax exemption for materials, software and equipment used for R&D purposes. Murphy said the bill encourages companies to create and retain high-paying R&D jobs in Texas and provides an incentive for research conducted in partnerships with Texas colleges and universities.

In exchange, those incentives may generate billions in increased economic activity in Texas and thousands of new, permanent jobs, proponents say.

Murphy’s bill passed through the House earlier this month.

iMark can now provide the studies to obtain both the State and Federal R&D Tax Credits.

iMark Realty Advisors provides innovative tax, finance, and energy solutions that help real estate clients and their CPAs minimize tax liability and maximize cash-flow. These services include:

 iMark Realty Advisors is affiliated with Bedford Strategies and Solutions, who is a national leader in these specialized services.

 

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About the Author

Mark Glover is the Principle of iMark Realty Advisors in the Dallas/Fort Worth market. Mark has over 25 years experience in advising clients on how to safely and profitably buy, sell, lease, develop and invest in commercial real estate. Mark also helps clients gain cash-flow in their business with a specialized suite of tax studies and tax credits. These include cost segregation. R&D credits, Energy credits, and Recapture credits.