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2021 SPECIAL SESSION I

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SB 1112 Research and development expenses; tax credit available against the bank franchise tax.

Introduced by: Mamie E. Locke | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Research and development tax credits. Provides that the research and development expenses tax credit and the major research and development expenses tax credit shall be available against the bank franchise tax for taxable years beginning on and after January 1, 2021. Under current law, the credits are available only against the individual and corporate income tax. This bill is identical to HB 1916.


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