Jul 29, 2013
TechVoice Launches New Push for IT Industry Support of Startup Innovation Credit Act of 2013
Effort kicks off at CompTIA ChannelCon 2013
Orlando, Fla., July 29, 2013 – A new push to muster information technology (IT) industry support for the Startup Innovation Credit Act of 2013 was launched here today by TechVoice, the partnership of CompTIA, the global non-profit association for the IT industry, the Technology Councils of North America (TECNA) and participating regional technology associations.
CompTIA ChannelCon 2013, the premier education and partnering event for the IT channel, served as the venue for the kickoff of the effort to press Congress to pass the Startup Innovation Credit Act of 2013 (S.193).
“This bipartisan legislation would give a huge boost to the innovative startup companies that fuel our nation’s economy and create new high-paying jobs,” said Todd Thibodeaux, president and chief executive officer, CompTIA. “Hundreds of these companies are here with us in Orlando this week for ChannelCon. We’re encouraged by their strong support and commitment to seeing that this important legislation becomes law.”
The Startup Innovation Credit Act of 2013 will provide support for innovative startup companies to invest in R&D. It allows an R&D tax credit against payroll tax liability, as opposed to income tax liability.
“Most startups don’t generate income tax liability in the early years, so they can’t take advantage of the tax credits given for R&D,” Thibodeaux explained. “This means that most startups don’t receive any current economic benefit from the existing R&D tax credit.
“S.193 fixes that by giving small startup companies a tax credit against payroll tax, allowing startups to keep more cash on hand,” he continued. “The longer a startup can keep cash, the longer they can live and grow while their new innovations get ready for market.”
All this week ChannelCon attendees will be encouraged to add their support for the bill by visiting TechVoice’s new Support the Startup Innovation Credit Act of 2013 website to promote passage of the legislation. They’re also encouraged to send letters of support to Senators and Member of Congress and to spread the word about the legislation with colleagues and partners.
In addition to CompTIA and TECNA, organizations that have pledged their support of S.193 include the Arizona Technology Council, ASCII Group, Colorado Technology Association, Chesapeake Regional Tech Council, Connecticut Technology Council, Council of Smaller Enterprises, Illinois Technology Association, North Carolina Technology Association, New Hampshire High Tech Council, New Jersey Technology Council, Northern Virginia Technology Council, New York Technology Council, Orange County Tech Alliance, Tampa Bay Technology Forum, Technology Association of Georgia, Technology Association of Oregon and the Washington Technology Industry Association.
CompTIA is the voice of the world’s information technology (IT) industry. Its members are the companies at the forefront of innovation; and the professionals responsible for maximizing the benefits organizations receive from their investments in technology. CompTIA is dedicated to advancing industry growth through its educational programs, market research, networking events, professional certifications, and public policy advocacy. Visit www.comptia.org, http://www.facebook.com/CompTIA and http://twitter.com/comptia.
TechVoice is a partnership of the Computing Technology Industry Association (CompTIA), the Technology Councils of North America (TECNA), and participating regional technology associations. Collectively, TechVoice represents thousands of technology companies across the country employing millions of workers. TechVoice is dedicated to empowering and mobilizing the grassroots tech community to impact legislative and regulatory issues important to growth, innovation and job creation. For more information, visit www.techvoice.org.
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