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What are the Potential Benefits of the Texas R&D Tax Credit?
The Texas R&D tax credits claimed by a qualifying company can potentially contribute to significant cost savings. These benefits include:
- Tax Liability Reduction
- Source of Cash Flow
- Carried Forward to 20 Consecutive Years
$1.6 BILLION
How Do I Claim the Texas R&D Tax Credit?
Texas R&D tax credit is 5% of qualified research expenses exceeding the base amount, capped at 50% of franchise tax liability. To qualify for sales tax exemption on eligible items used directly in qualified research, provide a properly completed Texas Qualified Research Sales and Use Tax Exemption Certificate (Form 01-931) to the retailer, including your registration number.
To claim the Texas R&D tax credit, the qualifying research activity must pursue technological information discovery and intend to develop new or enhanced business components.
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The activities that qualify for the Texas R&D tax credit are the same ones driving growth in your business.
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10,700
How Do I Claim the Texas R&D Tax Credit?
Texas R&D tax credit is 5% of qualified research expenses exceeding the base amount, capped at 50% of franchise tax liability. To qualify for sales tax exemption on eligible items used directly in qualified research, provide a properly completed Texas Qualified Research Sales and Use Tax Exemption Certificate (Form 01-931) to the retailer, including your registration number.
To claim the Texas R&D tax credit, the qualifying research activity must pursue technological information discovery and intend to develop new or enhanced business components.