Connecticut R&D Tax Credit + Cash Exchange

Connecticut's R&D Tax Credit + Cash Exchange is administered by the Department of Revenue Services. It combines the state's incremental and non-incremental R&D credits into a tax-credit route against corporation business tax liability, with a cash-exchange feature for firms that need liquidity. It is a tax incentive, not a grant. The cash-exchange path is available to companies with Connecticut qualified research expenses and gross income below $70 million. The program runs annually, with amounts from $1,000 to $1.5 million and a median around $40,000. The exchange value reaches 90% for biotech and 65% for other small businesses, with a $25 million program cap and a $1.5 million annual cap per company. The strongest fit is a for-profit company with in-state research spending in life sciences, biotech, manufacturing, or aerospace. Applicants do best when they document QREs carefully, stay within the annual caps, and avoid stacking with the Manufacturing Apprenticeship credit. The nonrefundable piece matters for firms with Connecticut tax liability, while the exchange matters for firms that want cash.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.