R & D Tax Credit Bill Moves Ahead

April 11, 2016

The Finance, Revenue and Bonding Committee has voted in favor of a bill that will strengthen existing businesses in CT, and attract others from elsewhere. The legislation allows for tax credits for companies conducting research & development. This measure will provide a boost for businesses, particularly bio-science. Alexion and Jackson Labs are two of the bio-science firms in CT that are helping to grow the state's economy. But it's not exclusive to bio-science. Other companies, including manufacturers, can benefit from the R & D tax credits. This is another step the legislature is taking to support the state’s businesses, keep them here, and help them expand.