Research & Development Tax Credit Bill Passes Senate Commerce and Tourism Committee
On March 4, 2019, the Senate Commerce and Tourism Committee passed SB 750, which permanently increases the cap on Florida’s Research & Development Tax Credit to $35 million.
This Florida Chamber- backed bill, sponsored by Senator Joe Gruters, would allow companies to receive a greater percentage of the R&D credits allowed under law while encouraging high wage jobs, capital investments and innovation in Florida. The Florida Chamber has led the effort to improve Florida’s R&D Tax Credit and provide additional funding over the last five years.
As Florida continues to try to drive innovation and attract high-wage, high-skill jobs, a strategic but underfunded component is the R&D tax credit. The Florida Chamber will continue to promote SB 750 and other efforts that will make Florida a top-three state for research and development and innovation by 2030.
Thank Senator Joe Gruters
Please take a moment to send a quick email thanking Senator Joe Gruters for working to further smarter and more competitive tax policies for Florida.