U.S. Sen. Maggie Hassan (D-N.H.) recently visited Sunrise Labs in Bedford, N.H., to discuss her R&D Tax Credit Expansion Act.
Hassan’s proposal would extend the tax credits to small businesses with less than $10 million in annual revenue, allowing startups with little or no profit to take the credit against all their payroll tax.
“It gives you a refundable tax credit to help you fund those new ideas that can turn into a profitable business and create jobs and really have the kind of ripple effect that we see here at Sunrise,” Hassan said in a Sunrise Labs news release.
“We work with many of these startups, and we’ve spoken with several of them that applaud this effort,” said Sunrise Labs CEO Eric Soederberg.
Hassan introduced the bill last month with Sen. Thom Tillis, R-N.C.
