R&D tax credit extension to Puerto Rico proposed by Governor Rossello.
This article was originally published in The Gray Sheet
Executive Summary
PUERTO RICO SEEKING TO EXTEND R&D TAX CREDIT TO ISLAND AS PART OF SEC. 30a amendment to the tax code, according to a resolution signed by Puerto Rico Governor Pedro Rossello and corporate executives in Washington, D.C. on Feb. 25. Currently, the tax credit for research and experimentation costs in the United States is not applicable to expenditures in U.S. territories.