Blogs
Dec. 2006 RTC Extension
The House and the Senate are in the holiday spirit and giving US companies...
On December 9, 2006, after over a year of controversy, the Congress and the Senate passed the Tax Relief and Health Care Act of 2006 that will extend the research tax credit program that expired on December 31, 2005. With a $16.3 billion budget, the uncertainty is finally eliminated for fiscal years 2006 and 2007. The legislation is now going on to President George W. Bush for his signature.
Business Strategies Magazine
Recently a local CEO received a substantial refund check from the IRS for a research and development credit just because his firm developed a new process that made the company more productive. The firm does not wish to release its name or the size of the check (it was quite substantial), but we can say this much—the company is not a whiz-bang high-tech firm, or a place populated by people wearing white lab coats, or even a fancy cutting-edge research facility—it's a good solid company that's an innovator in its industry.
