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Commerce committee advances bill to extend R&D tax credit to pass‑through entities
Summary
The committee placed HB7008, which would create a research and development expense tax credit for pass‑through entities such as LLCs and S corporations, on the consent calendar and referred the measure to the Finance Committee; supporters said the change would reach smaller firms that currently do not qualify for the credit.
The Commerce Committee on Oct. 27 placed HB7008 on its consent calendar and referred the bill to the Finance Committee. The proposal would allow pass‑through entities — including LLCs and S corporations — to claim a research and development expense tax credit currently available only to C corporations.
Committ…
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