The Arizona Competitiveness Package (Law HB2001)
In early 2011, Governor Brewer signed into law HB2001 – The Arizona Competitiveness Package. This legislation marks a new level of Arizona commitment; making it easier for existing Arizona companies to be more prosperous and it establishes Arizona as one of the most desirable places for expanding companies to do business.
I want to point out two of the programs which benefit companies in high-tech industries.
- · The Research and Development Tax Credit program that was modified to provide an increased tax credit on qualified R&D expenditures made in cooperation with an Arizona university – credits will now range from 24% to 34%. Tax credits are based upon R&D increases over prior years.
- · Arizona’s Angel Investment Tax Credits are now available to a much larger group of companies. Further, improvements to this credit include elimination of capital gains tax for investments made in qualified small businesses.
Arizona is helping you compete. We invite you to dialogue with our team to discover how these incentives, and others, can be put to work for you!
For assistance contact Cindy Grogan at CindyG@azcommerce.com or 602-771-1221.
Source: Arizona Commerce Authority
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