Daily Tax Report: State provides authoritative coverage of state and local tax developments across the 50 U.S. states and the District of Columbia, tracking legislative and regulatory updates,...
The Research and Development tax credit in Texas, which took effect Jan. 1, 2014, provides companies the option of selecting either a sales tax exemption on property purchased by persons engaged in qualified research activities or the franchise tax credit, but not both. Giles B. Sutton, a partner with McGuireWoods LLP in Washington, D.C. offers a primer on the technical nuances of this new incentive.
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