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Incentives for Emerging Innovators

Incentives for Emerging Innovators . Charles H. Fritts April 9, 2013 . Promote Innovation & Capital Formation. Recognize role of pre-revenue companies in U.S. economy Most incentives address companies with tax liabilities R&D Credit Accelerated depreciation Lower tax rates

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Incentives for Emerging Innovators

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  1. Incentives for Emerging Innovators Charles H. Fritts April 9, 2013

  2. Promote Innovation & Capital Formation • Recognize role of pre-revenue companies in U.S. economy • Most incentives address companies with tax liabilities • R&D Credit • Accelerated depreciation • Lower tax rates • Incentives to promote innovation & capital formation • Innovators • Investors • High risk ventures • Long term holding period

  3. Coalition of Small Business Innovators • Advanced Medical Technology Association • Angel Capital Association • Biotechnology Industry Organization • Center for Innovative Technology • Commercial Spaceflight Federation

  4. Coalition of Small Business Innovators • CONNECT • Electricity Storage Association • Information Technology and Innovation Foundation • Medical Device Manufacturers Association • NanoBusiness Commercialization Association

  5. Coalition of Small Business Innovators • National Council for Advanced Manufacturing • Neurotechnology Industry Organization • Water Innovations Alliance

  6. Key Tax Issues • R&D Partnership Structures: Section 469 Provide a limited exemption from the passive loss rules • 16% in near term • 34% in long term • Net Operating Loss Reform: Section 382 • Allow recognition of NOLs generated by qualifying R&D expenditures by a small business in ownership change.   • 7% in near term • 14% in long term

  7. Key Tax Issues • Capital Gains Treatment for Small Businesses: Section 1202 • Raise the gross assets test from $50 million to $150 million • Exclude Intellectual Property • 8% in near term • 18% in long term

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