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Texas Research and Development Tax Credit and Exemption

Gain a better understanding of the requirements of the sales tax exemption and franchise tax credit.

In 2014, the Texas legislature enacted a sales tax exemption and franchise tax credit for businesses engaging in qualified research and development activities. Qualifying taxpayers have the option to choose between the credit or the exemption but cannot take both. Businesses engaged in qualifying contracts with higher education institutions may be eligible for increased credits. This topic will help businesses identify whether they qualify for the qualified research and development credit, what costs qualify, and how to claim the credit or exemption. The material will also discuss taxpayers' requirements in accounting for, reporting, and substantiating the qualifying research and development sales tax exemption or franchise tax credit.

Runtime: 96 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Legislative History and Background
  • Who Qualifies?
  • What Is Qualified Research?

Sales Tax Exemption

  • Direct Use Requirement
  • Depreciable Tangible Personal Property
  • Reporting Requirements

Franchise Tax Credit

  • Making an Election
  • Contracts With Higher Education Institutions
  • Credit Carryforwards
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on April 18, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kristie J. Iatrou, Esq.

Kristie J. Iatrou, Esq.

Mondrik & Associates

  • Associate attorney at Mondrik & Associates
  • Represents taxpayers in resolving state and federal tax controversies and litigation
  • Former Assistant Attorney General, Tax Division at the Office of the Attorney General of Texas
  • J.D. degree, St. Mary’s University School of Law
  • Can be contacted at 512-542-9300 or [email protected]
Christina A. Mondrik, Esq., CPA

Christina A. Mondrik, Esq., CPA

Mondrik & Associates

  • Board Certified in Tax Law by the Texas Board of Legal Specialization
  • Founder of Mondrik & Associates
  • State and Federal Tax Controversies and Litigation
  • Conducts regular seminars and workshops on state and federal tax
  • B.B.A. degree in accounting, University of Texas at Austin; J.D. degree, University of Texas School of Law
  • Chair, Federal Tax Policy Committee, Texas Society of CPAs
  • Secretary, Texas State Bar Tax Section
  • Sales and Use Tax Subcommittee Chair, State and Local Tax Committee, ABA Section of Taxation
  • Can be contacted at [email protected] or (512) 542-9300
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Why Lorman?

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Product ID: 401047
Published 2018
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