NFIB/CA Executive Director John Kabateck,
today issued the following statement in support of Assembly Bill 437, by
Speaker Toni Atkins.
“AB 437 by Assembly
Speaker Toni Atkins helps businesses get tangible benefits from the research
and development tax credits they’ve earned. That means more businesses getting
more products in the pipeline and putting more people on the payroll.”
“Research and
development tax credits can be an important tool to help small businesses
remain competitive and ensure that California remains a global leader in
innovation and entrepreneurism,” Kabateck continued. “NFIB/CA is proud to be a
supporter of AB 437.”
AB 437 allows small
businesses with $5 million or less in gross receipts to cash out a portion of
the tax credits they have earned and use them to reinvest in further research
and development. This bill authorizes eligible businesses to cash out 10
percent of all tax credits received in 2014 and 2015. From 2016 onward,
eligible businesses will be able to cash out 15 percent of the credits
generated. Any remaining credits would be carried forward by the businesses.
