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INCENTIVE DESCRIPTION
| State: | WA |
| Incentive Type: | Income/Franchise Tax Incentives and Credits |
| Incentive Title: | R&D Credits |
| Description: | 1. AEROSPACE PREPRODUCTION DEVELOPMENT EXPENDITURES: A B&O tax credit equal to 1.5% of qualified preproduction development expenditures. Expenditures are to be in the area of manufacturing commercial airplanes or component parts of commercial airplanes. 2. HIGH TECHNOLOGY TAX CREDIT: Tax credit against the state's B&O tax for businesses involved in R&D activities. Companies must be involved in one of five areas: advanced computing, advancd materials, biotechnology, electronic device technology or environmental technology. |
| Eligibility Requirements: | 1: The credit cannot exceed B&O taxes due for any reporting period. 2: The maximum credit a firm may take is $2 million per year. The credit is non-refundable and may not carry forward. |
| Geographic Restrictions: | Statewide |
| Granting Authority: | Department of Revenue |
| The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com |
Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives. |
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