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Connecticut's New R&D Tax Credit Plan for Small Businesses

Published 1 week, 5 days ago
Description

Connecticut lawmakers propose a revamped R&D tax credit plan, offering a six percent credit on spending for small businesses, including startups and growth companies in bioscience. The voucher program, capped at $1.5 million per business and $25 million statewide, aims to address unfair gaps in the tax code. Business leaders endorse the plan, citing its potential to boost innovation and jobs without straining the budget. The bill has passed the Finance, Revenue and Bonding Committee and is now under consideration in the House.

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