Florida Recent News – Page 2 – Swanson Reed

BeyondSpring to Host R&D Day for Plinabulin

BeyondSpring Inc. is a global leader in biopharmaceuticals with focus on cancer therapies. They have recently announced their plans to host an R&D Day to discuss the development program for their novel immune agent – Plinabulin.

The R&D day will take place in late June with presentations from experts in the field who will highlight the unmet medical needs in treating patients with non-small cell lung cancer (NSCLC).

They will also discuss their pipeline as it applies to their lead asset plinabulin – a selective immunomodulating microtubule-binding agent (SIMBA). Their focus will specificall be on:

Plinabulin and G-CSF combination, which received priority review by the U.S. Food and Drug Administration (FDA) for its NDA for prevention of chemotherapy-induced neutropenia (CIN), which also received breakthrough designation. The Company has a PDUFA date of November 30, 2021.
Plinabulin and docetaxel combination, which is in a fully enrolled pivotal Phase 3 global study (DUBLIN-3) as a potential direct anticancer agent in patients with NSCLC. DUBLIN-3 is expected to report data in mid-2021.
Plinabulin in combination immune-oncology regimens, leveraging its MOA as a potent APC (antigen presenting cell) inducer. Plinabulin has demonstrated promising Phase 1 data in 2nd/3rd line SCLC (ASCO 2021); company has recently initiated a Phase 1 study in 7 cancers which failed checkpoint inhibitors to investigate plinabulin’s potential to reverse resistance to immunotherapy.

Are you developing new pharmaceuticals for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Little Caesars Testing Out a Plant-Based Pizza with Impossible Foods

After investing a lot of time and money in Research and Development (R&D), Impossible Foods has created the long-awaited meat-free sausage, and Little Caesars, the pizza chain, will be the first company to jump on the bandwagon and try its hand at plant-based proteins with its “Impossible Supreme” pizza.

Impossible Foods is the same company responsible for the plant-based Impossible Burger.

The new vegan sausage made its exclusive debut on May 20, 2019, as a topping on Little Caesars’ $12 pizza alongside green peppers, caramelized onions and mushrooms. It is currently available in 58 restaurants in four different locations including Naples, FL, Yakima, WA, Myers, FL, and Albuquerque, NM.

Little Caesars said it will test the product for four weeks, and if it’s successful, they’ll decide if they’ll roll it out to more markets around the nation. The pizza company started paying more attention to the plant-based protein trend in 2018 after realizing more meat-eaters were switching from animal-based products to vegetarian alternatives.

So, in an effort to wrap itself in its mission of attracting carnivores and vegetarians alike, Little Caesars partnered with Impossible Foods in October 2018 to create a meal boasting a plant-based protein.

“These kind of flexitarians have been growing in nature,” Ed Gleich, Little Caesars’ Chief Innovation Officer, told CNN Business. “They’re not hardcore ‘vegans or vegetarians,’ but they’re more adventurous in their choices. The Impossible Supreme pizza is designed to appeal to meat eaters, and isn’t vegan (it’s topped with cheese, along with the fake sausage and other items).

”At first, Impossible Foods proposed the plant-based beef they were using on their Burgers. However, Little Caesar told them that most clients order sausage-topped pizzas than beef-topped pizzas, so Impossible Foods went back to the drawing board and come up with a sausage alternative.

“Normally companies want to sell you the product they have,” said Gleich. “Not a product they’ve got to get out and put some R&D time in, and put resources against and develop.”

Harris Corp To Invest $125 million in R&D

Global defense and aerospace firm, Harris Corp, has in the past fixated its services on communication services for the United States military, but this year, it has decided to broaden its services horizon through a multi-million dollar investment.

Harris Corporation announced on Dec 10, 2018, that it plans on bringing around $125 million in internal research and development (R&D) to Florida this financial year. The firm’s R&D activities will chiefly take place at its central Florida branches, where Farris Corp is based, and pay attention to areas like avionics, electronic warfare, small satellites and robotics. The state will receive more than a third of the firm’s total $300 million+ internal R&D budget.

Harris Corp’s Florida presence will also be supplemented by its lately publicized plan to merge with L3 Technologies. L3 Harris Technologies (the newly combined firm) will have its headquarters in Melbourne, Florida. This will result in investment growth and create additional employment opportunities in the state.

The Internal R&D will support the firm’s 7,000+ staff based in Florida, including more than 3,300 scientists and engineers. The $125 million investment will also generate higher paying jobs that will pay an annual average salary of $95,000.

Harris Corp did not disclose the number of jobs the R&D investment will generate, but the firm currently has around 375 job openings in Florida; most of them being in engineering. This big monetary commitment will also nurture partnerships with universities and companies that Harris works with to fulfill the hundreds of contracts it secures each year.

Some of the institutions Harris has partnered with include Florida Institute of Technology, University of South Florida, University of Central Florida and the University of Florida.

In the meantime, Harris Corp has already ventured into the small satellite industry. On Dec 6, 2018, the firm launched its 1st backpack-sized satellite into space utilizing India’s Polar Satellite Launch Vehicle.

Opinions Heading ‘Up the Ladder’ in Miami: Florida-based CityGrader allows citizens to review public service workers

Everyone has an opinion, especially when it comes to political leaders and representatives in the public sector. Have you ever had an outstanding experience with a police officer and wanted to let others know? Maybe you’ve had a not so great encounter with the local librarian and needed to express how you feel? A South Florida startup, appropriately named CityGrader, has recently developed kiosks that can help you with that itching desire to express opinions about public service employees.

CityGrader is a simple and effective platform dedicated to increasing the quality and accountability of local governments through reviews and feedback that comes directly from the public. According to the company website, through the CityGrader platform, taxpayers play a meaningful role in making positive change in local government by increasing the quality and accountability of public employees. To give you a taste of CityGrader, take a peek at the video below.

Via the app’s Public Partner Dashboard, local governments can work to improve public services and make adjustments to policies. All Public Partners of CityGrader pledge an oath to monitor feedback in an effort to improve accountability, transparency and public services. If you are a member of the public, all that is required is to enter your email address and basic contact information, then provide a grade and review. Once completed, you will submit the information, which will be reviewed by your local government representatives.

The CityGrader experience was conceived by a husband and wife duo after working with various building department employees. “We’ve had some rather remarkable experiences, both positive and negative. I find it’s hard to do anything about those experience, to give credit where credit is due and to give criticism where criticism is due,” said CityGrader founder Tony Newell. The most recent kiosks can be found at Miami’s City Hall and Miami Riverside Center. “Miami’s decision to join CityGrader as its first Public Partner demonstrates forward thinking and a continued commitment to improving the level of services it brings to residents,” Newell said.

“Miami residents are our bosses and we need their input to better serve them,” Miami Mayor Francis Suarez said. “Time and time again, we are witnessing how technology, like what CityGrader offers, continues to help us create a stronger connection between our government and residents.”

The app can also be used as a data-mining tool. This will allow governments and public-sector employees to track issues across the city via keyword searches. Action can then be taken in relation to the keyword complaints. The startup also released CityGraderGO, an app where citizens can rate employees from a smartphone or tablet. For more information on CityGrader, please click here.

Are you developing technology to aid democracy? Creating an application that connects people with services? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services to the state of Florida. We manage all facets of the R&D tax credit program in Florida, from claim prep & audit compliance to claim disputes.

2017 R&D Awards Finalists Announced

The 2017 R&D finalists have been announced today by the R&D Awards Committee and R&D magazine. This year will mark the 55^th annual R&D 100 Awards program which honors the 100 most innovative technologies of the past year. The finalists were selected by an independent panel of more than 50 judges representing R&D leaders in a variety of fields.

The R&D 100 Awards are considered the most globally prestigious recognition of invention and innovation. The awards represent 100 of the top innovations across the categories: Analytical/Test, IT/Electrical, Mechanical Devices/Materials, Process/Prototyping, and software/Services.

The committee will also honor excellence with four special recognition awards to be presented, which will be from the categories; Market Distributor services, Market Distributor Products, Corporate Social Responsibility, and Green Tech.

This year the awards will be held in Orlando and they will be expanded to include the R&D 100 Conference, where industry professionals will have the opportunity to learn first-hand about critical advances in technology and science.

The R&D 100 Awards program was first established in 1963 and has since been an integral part of the R&D Magazine brand. Past winners have consisted of sophisticated testing equipment, innovative new materials, distributive chemistry breakthrough, new biomedical products, breakthrough consumer products, and new industry technologies, academia, and government.

Companies creating new knowledge on a global scale can apply for a federal or state R&D Tax Credit. To find out more about R&D and to assess your company’s eligibility, contact a Swanson Reed R&D Tax Advisor today. We look forward to speaking with you and guiding you through the R&D process.

Awards r&d R&D Tax R&D tax credit R&D Tax Incentive Research research and development

Florida dedicating $19.5 million to Space Florida

The Department of Transportation in Florida are investing $17 million for the Launch Complex 36, which will be home to Blue Origin’s New Glenn reusable rocket launches.

Blue Origin’s founder, Amazon and Washington Post owner Jeff Bezos, originally announced the plan to use the location in September 2015. Bezos said his company would match the government’s contributions, bringing the total budget for refurbishing the launch complex to $34 million.

Two new rocket models late last year have been announced by Blue Origin, which will be named after the late astronaut John Glenn. Glenn became the first American to ever orbit the Earth in 1962. Blue Origin will open a 750,000 sq. ft. factory for the production and development of new rockets at the Kennedy Space Center in the future, with a goal start date of 2018. Blue Origin has committed to spending $200 million on the facility and is hoping to employ upwards of 330 people from the local economy.

During a public announcement of the project in September 2015, Bezos said “We’re not just launching here, we’re building here,” Florida Governor Rick Scott attended the meeting, where Bezos continued, “Our ultimate vision is millions of people living and working in space.”

The budget includes $19.5 million for “operations and job creation funding for Space Florida,” the public agency within the state department for transportation which deals with the local space industry around Cape Canaveral. It is estmiated the $19.5 million would be divvied up as follows; $10 million for operations, $7 million for new business financing, $1.5 for space-related tourism (as opposed to actually exploring above the atmosphere), and $1 million to beef up R&D in a partnership with Israel.

Recently, Bezos provided an email update regarding the development of the company’s new BE-4 rocket engine. The email addressed some of the progress Blue Origin had made in its design.

Bezos stated “For even more performance, you can add one or more boost pumps ahead of the main pumps. We’ve done that on the oxidizer side of our BE-4 engine. Our Ox Boost Pump (OBP) design leverages 3-D additive manufacturing to make many of the key components,”. He noted the second iteration of the OBP was now being tested.

“The housing is a single printed aluminum part and all of the stages of the hydraulic turbine are printed from Monel, a nickel alloy. This manufacturing approach allows the integration of complex internal flow passages in the housing that would be much more difficult to make using conventional methods. The turbine nozzles and rotors are also 3-D printed and require minimum machining to achieve the required fits.”

Floridians Taking Advantage of R&D Tax Credits

For those businesses looking to stay ahead of the curve, there’s a certain incentive to keep you going. The federal R&D Tax Credit has sweetened the deal even more – now reaching more companies in more industries. That includes you, Florida.

Surprisingly enough, only one in twenty eligible businesses actually apply for the R&D tax credits. Which means many of these businesses are missing out on valuable funds to continue to grow and succeed. Did we mention it’s mostly those small to medium sized companies that are unfamiliar with the ins-and-outs of claiming the tax credits.

Our team at Swanson Reed acts as a guiding light through the confusion and technicalities of applying for those lucrative tax credits so businesses of all sizes are able to reap the rewards of their R&D investments.

To shed a little bit more light here are the top five (5) tips to help your Florida business thrive and squeeze out every last tax dollar they deserve.

Don’t overlook your business’ activity: Most people associate R&D with mad professors in lab coats however the Florida Tax Credit covers all manner of R&D – including mad scientists. Companies from industries as diverse as software/technology, manufacturing, agriculture, architecture, engineering and contracting (electrical, mechanical, etc.) can qualify and start applying for federal and state R&D credits.

Identify all qualifying activities: So if R&D tax incentives are so expansive, what kinds of activities make businesses from so many industries eligible? Well, if a company engages in practical problem-solving or experimentation to improve a product or process, there is a good chance they qualify. When it comes to R&D, applied sciences definitely count and the trial-and-error experimentation that occurs on the factory floor or the modeling and prototyping taking place behind a computer screen are as eligible as any other activity. For businesses making even the simplest of improvements to their products or processes, there can be substantial tax benefits, so it’s wise to consider all of your qualifying activities.

Take advantage of every R&D credit coming your way: Remember your state’s R&D credit when applying for the federal incentive, particularly considering eligibility for the state credit depends in part on if you have received federal credits. It is important to note that Florida’s R&D incentive sets a $9 million cap on the amount of credits it distributes in a given year. Assuming a company meets qualifications, the Florida credit works on a first-in, best-dressed notion; meaning all web-based applications must be submitted the day the Florida Department of Revenue begins accepting applications. So it’s important to have someone on your side to get those application in quick smart.

Keep up with the latest laws and regulations: The Department of Treasury recently announced regulations that will allow businesses to take the Alternative Simplified Credit (ASC) on amended returns, a regulatory change that will allow thousands of small and medium businesses to take further advantage of the federal R&D Tax Credit. Follow the Swanson Reed Knowledge Center to keep up to date with state and federal legislation.

Work with a consultant: With so many constant policy changes occurring to an already complex section of the tax code, it can be difficult for businesses to keep up with every individual change. Qualifying for R&D requires both technical industry knowledge and experts familiar with such a specialized section of the tax code. To maximize your results, seek the services of a Swanson Reed adviser with expertise in both areas.

Florida Revamps State R&D Tax Credit Process

Since the first federal legislation enacting research and development (R&D) tax credits in 1981, many U.S. states have begun taking advantage of the copious benefits afforded by a tax credit program. Although Florida first began an R&D tax credit program in 2013, the state’s unorthodox system of processing applicants, coupled with a comparatively low cap on credits, has left some taxpayers longing for change. Now the program has been significantly revised.

Prior to 2016, claimants applied for the tax credit beginning on March 20 of the given year at 8:00 a.m. local time. Applications were processed in the order they were submitted, leading to the inaugural year’s entire allocation of credits being distributed in around six hours. Two years later, the program granted all tax credits in under six minutes with only a fraction of those eligible receiving any credits. As such, Florida has deemed these issues as necessitating a great deal of change to the R&D tax credit program. Perhaps most significantly, the total credit cap has been raised from $9 million to $23 million, allowing a greater number of qualified applicants to receive credits.

These changes carry significant ramifications for those planning to apply in 2016. In order to take advantage of the new benefits offered by Florida’s revamped R&D tax credit system, applicants should pay close attention to certain factors and deadlines. Firstly, taxpayers must request a letter from the Department of Economic Opportunity certifying that the applicant is an eligible target industry business. This includes those businesses in the manufacturing, biological and marine sciences, general and cloud information technology, aviation and aerospace, homeland security and defense, and nanotechnology industries. Secondly, the application period has been extended to seven days, spanning March 20 to March 26. Finally, understand that while the total credit cap has been raised from $9 million to $23 million, if the total amount of credits for all applicants exceeds the new $23 million cap, the credits will be distributed on a prorated basis.

Credit availability is subject to legislative changes. Swanson Reed’s R&D tax professionals are available to discuss the R&D tax credit – contact us today if you would like to know if your company qualifies.

New Bill Brings New Rules to the Florida R&D Tax Credit

With the passing of House Bill 33a in 2015, several changes have been made to Florida’s R&D Tax Credit. Florida has changed the annual limit on the research and development corporate tax credit for the March 2016 application period to $23 million from the usual $9 million cap. After 2016, the available credit returns to $9 million. The bill also applies further restrictions on which types of industries can claim the credit, and changes the distribution of credits to eligible applicants from first-come, first-serve to a prorated basis.

The eligible target industries include the following:

Manufacturing
Life Sciences
Information Technology
Aviation and Aerospace
Homeland Security and Defense
Cloud Information Technology
Marine Sciences
Materials Science
Nanotechnology

A business applying for the Florida R&D tax credit must include a letter from the Department of Economic Opportunity confirming its eligibility.

Applications must be filed on or after March 20th and before March 27th for R&D expenses incurred during the previous year. The $23 million cap for the 2016 application period will be granted for R&D expenses incurred in calendar year 2015. If total credits for all applicants surpass the maximum allowed, credits are granted on a prorated basis.

If you are interested in claiming the R&D tax credit in Florida, please contact a Swanson Reed specialist for more information.