A July 8th article in the Post Tribune opines that Legislative session good for small firms.
Sounds like the paper has an opinion in its news section, but in any event, the report notes that the Chamber of Commerce thought small businesses saw big gains.
Specific changes include increases and exemptions in research and development. For example, starting in 2008, the Senate increased the R&D tax credit to 15 percent for the first $1 million invested, up from 10 percent. Also, R&D equipment purchases are exempt from state sales tax by 50 percent starting next month and by 100 percent after July 2007.
In the same legislation, companies that relocate their headquarters to Indiana will be eligible for a tax credit equal to 50 percent of the relocation costs, Brinegar said.
One of the most important elements to the legislation was House Bill 1653, known as the “Shovel-Ready†bill. It would allow local governments to obtain all or part of any permits to create sites a business could start developing immediately instead of having to go through all the permit processes.
Leave a Reply