- Louisiana Revised Statute (RS) § 47:6015 – Louisiana law establishing R&D tax credits.
- Louisiana Economic Development (LED) – State agency for economic development programs.
- Louisiana Department of Revenue (LDR/DOR) – Agency managing state tax laws.
- Qualified Research Expenditure (QRE) – Expenses eligible for research tax credits.
- Louisiana Qualified Research Expenditure (LQRE) – Qualifying research expenses incurred in Louisiana.
- Internal Revenue Code (IRC) Section 41 – Federal law defining qualified research activities.
- IRC Section 41(d) (Qualified Research Definition) – Federal definition of qualified research.
- Income and Corporation Franchise Taxes – Taxes offset by the R&D credit.
- Credit Application Fee (0.5% of requested credit) – Fee required to apply for credit.
- Minimum Application Fee ($500) – Minimum fee for credit application.
- Maximum Application Fee ($15,000) – Maximum fee for credit application.
- Pre-Approval/Certification Requirement – Mandatory approval before claiming the credit.
- Certification by LED (Prior to Claiming) – LED approval required before tax filing.
- Tax Credit Incentive – Incentive for conducting qualified research.
- Tax Credit Registry (for Transferred Credits) – Official record of transferred tax credits.
- Form R-620 (Research and Development Tax Credit Claim Form) – Form used to claim R&D credit.
- Form R-6135 (SBIR/STTR Transfer Notification Form) – Form for transferring SBIR/STTR credits.
- Base Amount (for Credit Calculation) – Historical spending baseline for credit calculation.
- Average LQRE (3 Previous Tax Years) – Average Louisiana research spending over three years.
- Small Business Credit Rate (Up to 30%) – Higher credit rate for smaller entities.
- Entity Employing Less Than 50 Persons – Business size qualifying for highest rate.
- Entity Employing 50 to 99 Persons (Credit Rate) – Mid-sized business tier for credit rate.
- Entity Employing 100 or More Persons (Credit Rate) – Large business tier for credit rate.
- Full-Time Equivalent (FTE) Employees (Louisiana-Based) – Metric for counting Louisiana employees.
- Credit Carryforward Period (5 Years or 10 Years, varies) – Time unused credits remain valid.
- Nonrefundable Credit – Credit cannot exceed tax liability.
- Taxable Year – Fiscal period for tax reporting.
- Wages for Qualified Services (in Louisiana) – Pay for employees doing Louisiana research.
- Direct Supervision (of Qualified Research) – Overseeing employees performing qualified research.
- Direct Support (of Qualified Research) – Assisting employees performing qualified research.
- Direct Performance (of Qualified Research) – Hands-on execution of research activities.
- General or Administrative Wages (Exclusion) – Indirect costs excluded from credit calculation.
- Cost of Supplies (in Louisiana) – Materials used for research in Louisiana.
- Supplies Consumed (in Qualified Research) – Items used up during research process.
- Contract Research Expenses (65% Limitation) – Payments to third parties for research.
- Written Agreement (for Contract Research) – Contract required to claim external research.
- Taxpayer Bears Financial Risk (Contract Research) – Requirement to fund research regardless of outcome.
- Basic Research Payments (Qualified Organization) – Payments to non-profits for scientific study.
- Federal Form 6765 (Required Documentation) – Federal form needed for state filing.
- Small Business Innovation Research (SBIR) Grant – Federal grant program for small businesses.
- Small Business Technology Transfer (STTR) Grant – Federal grant for research collaboration.
- SBIR/STTR Tax Credit (30% of Award) – Credit based on federal grant award.
- Transferable Credit (SBIR/STTR Credit Only) – SBIR/STTR credits can be sold.
- Aggregate Cap ($12 Million Statewide – Post-2025) – Total annual limit on state credits.
- Expenditure Verification Report (CPA/Tax Attorney) – Professional validation of claimed expenses.
- Control Group or Affiliates (Employee Count) – Related entities counted for employee size.
- Business Component (Federal Four-Part Test) – Product or process being improved.
- Technological in Nature (Federal Four-Part Test) – Research based on hard sciences.
- Narrative Describing R&D Activities (Required Documentation) – Written explanation of research work performed.
