Gov. Lamont proposes $2 million R&D tax credit increase
Lamont detailed his intention to increase the state's research and development tax credit from 60% to 90%.
Share:
More Stories
Gov. Ned Lamont has outlined plans to introduce a nearly $2 million tax cut, focusing on boosting research and development in Connecticut.
Lamont detailed his intention to increase the state's research and development tax credit from 60% to 90%.
"I was down at the BioCT meeting in New Haven. A lot of new start-ups in the life sciences area there, and we're going to have a research and development tax credit-- take that up to 90% from 60%. That helps them make the investments they need to make sure we're at the forefront," Lamont stated.
However, unlike the income tax cut he signed into law two years ago, this proposal does not involve reductions in personal income taxes. Lamont is set to reveal his full budget proposal next week.
