Gov. Bobby Jindal has signed a bill that extends state Research and Development tax credits for another six years. Sen. Dan Claitor, R-Baton Rouge, introduced the bill during the legislative session. The bill gives tax credits of up to 40% for emerging firms and 8% credits to companies with more than 100 employees. In the past three fiscal years, the credits spurred growth at more than 200 companies, Jindal says. Those companies obtained $30.6 million in tax credits, and Louisiana Economic Development says every $1 in tax credits leads to $34 in overall economic output in the state. “We’re sending a signal that we want to encourage companies to spend more on innovation and to find new ways to be more competitive in the marketplace,” the governor says.
Jindal signs R tax credit extension bill
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