Federal Tax The IRS has expanded tax incentives for investments in rural Qualified Opportunity Zones (QOZs) under the One, Big, Beautiful Bill. Effective July 4, 2025, the substantial improvement threshold for rural QOZ property is reduced from 100 percent to 50 percent. Rural areas now include locations with populations under 50,000 and adjacent non-urbanized zones. […]
Minnesota House File 9 ( HF 9 ) introduces significant tax changes, including an increase in the gross receipts tax rate on taxable cannabis products and the repeal of the sales tax exemption for data centers. The state’s R&D tax credit becomes partially refundable starting in tax year 2025, with refundability rates of 19.2% for 2025 and […]
Texas has created the Strong Families Tax Credit against its franchise tax, providing a credit of up to $1 million annually per taxable entity for designated contributions to eligible organizations supporting at-risk families and parenting initiatives. The total statewide credit is capped at $5 million yearly, with unused credits eligible for carryforward for up to […]
Texas has repealed its prior research and development tax credit and its associated tax credit and replaced them with a revised research and development tax credit. The credit varies based on prior expenses and collaborations, ranging from 4.361% to 10.903%, and provides a refundable option for entities owing no tax. (S.B. 2206), Laws 2025, effective […]
Massachusetts Governor Maura Healey signed the Mass Leads Act in December 2024. Climate tech provisions are part of $4 Billion Mass Leads Act. Key elements of the Mass Leads Act include: $300 Million in Tax Credits over 10 years to employers growing research, development, innovation, manufacturing, deployment and commercialization in the climate-tech sector. $200 Million […]
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