Federal small business technology transfer grants

From the 2024 DOR Tax Exemption Study

82.04.4262 - Federal small business technology transfer grants Description Grants received from the federal government under the small business technology transfer program are exempt from B&O tax. The small business technology transfer program awards funds to small businesses that partner with nonprofit research institutes to transfer technology and products from the laboratory to the marketplace. Purpose Encourages research and development in high-technology small businesses. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.035 $0.036 $0.038 $0.040 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.033 $0.038 $0.040 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Growth rate mirrors the service and other activities B&O tax growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. Data Sources - Economic and Revenue Forecast Council, March 2023 for