Texas - Legislature passes bill adopting research and development tax credit and sales and use tax exemption

UPDATE: Governor signed H.B. 800 on June 14, 2013

On May 21, 2013, the Texas Senate passed H.B. 800, which would provide a sales and use tax exemption and a franchise tax credit relating to qualified research and development (R&D) activities in Texas. The bill now moves to the governor’s desk since the bill was passed by the House earlier in the month. With Governor Perry’s expected signature, Texas would join nearly 40 other states that have an R&D tax credit.

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