For tax years beginning on or after January 1, 2007, Kentucky law permits a credit against income tax and limited liability entity tax (LLET) for the construction of research facilities.
“Construction of research facilities” means constructing, remodeling and equipping facilities or expanding existing facilities in this state for qualified research. It includes only tangible, depreciable property, and does not include any amounts paid or incurred for replacement property. The credit is available once the tangible, depreciable property is placed in service.
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Swanson Reed in Kentucky provides R&D tax credit consulting and advisory services to Louisville, Lexington, Bowling Green, Owensboro, Covington, Richmond, Georgetown, Florence, Hopkinsville, Elizabethtown, Nicholasville, Jeffersontown, Frankfort, Henderson, Paducah, Independence, Radcliff, Ashland, Madisonville and Winchester.
If you have any questions or need further assistance, please call us on (800) 986 4725.
Feel free to book a quick teleconference with one of R&D tax specialists at a time that is convenient for you, if you would like to learn more about R&D tax credit opportunities.
R&D Tax Credit Training for KY CPAs
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