Major Impact of Changes to Research & Development Tax Law – Presented by FML CPAs

Join FML CPAs and BioCT as we cover the essential aspects of monumental changes to Research & Development Tax Laws both within Connecticut and at the Federal level. Discover how to maximize your R&D credits in state, and how the “Big Beautiful Bill” has changed the game.

Presented by Partners Frank Milone & Bill Claffey, this webinar will cover key legislative changes to Connecticut’s Research and Development Tax Credit laws impacting biotech companies and how the “One Big Beautiful Bill” has changed the treatment of research and development expenses across all sectors, both at the national level and the trickle-down impact to the State of Connecticut (i.e. the 174 impact).

Speakers:

Frank Milone, Partner, Assurance & Advisory Services, Fiondella, Milone & LaSaracina LLP

One of FML’s Founding Partners, Frank Milone has over thirty years of experience providing audit and advisory services to a broad range of clients within the Northeast marketplace. Frank spent a decade at a national accounting firm prior to co-founding FML in 2002. Frank leads FML’s Emerging Companies and Venture Capital practice and has significant experience working in a variety of industries, including software, software-as-a-service, medical device, life sciences, digital health, financial technology, clean technology, and consumer products. Frank and the FML team regularly advise emerging growth company clients in a broad range of matters, from entity formation to tax structure, debt and equity financings, mergers and acquisitions, strategic collaborations, tax credit and incentives, revenue recognition, stock compensation, and exit planning. Frank’s specialties also include managing the Firm’s Internal Control practice, which includes Sarbanes-Oxley services, SOC 1 and SOC 2 audits, cybersecurity audits and internal audit support services. Additionally, he heads the Firm’s Benefit Plan audit practice and has significant experience auditing both public (11-K) and private defined contribution plans, defined benefit plans and health and welfare plans. Frank earned his B.S. in Accounting from the University of Connecticut and is a Certified Public Accountant. Frank has served on several boards, including as Past President of the Board of Directors of the UConn Alumni Association and Crossroads Venture Group.

Bill Claffey, Partner, Tax & Advisory Services, Fiondella, Milone & LaSaracina LLP

Chris Smith, Managing Partner, Rome Smith Kowalski

Chris re-joined Smith Kowalski after serving five years in the administration of Governor Dannel P. Malloy, most recently as Director of Policy and Government Affairs; the Governor’s chief lobbyist. In his position within the administration, Chris oversaw all policy development and implementation of executive branch policies and legislative priorities. In both of his roles previously with the firm and with the Governor’s Office, Chris has developed strong relationships with legislators and staff on both sides of the aisle, with state agency commissioners & staff, and municipal officials in his 20 years working in different capacities at the State Capitol.

John Harkins, Rome Smith Kowalski

John is a former state representative having served 13 years from Stratford’s 120th district. Past leadership appointments include Deputy Minority Leader at large, Caucus Chairman, Assistant Minority Leader, and Ranking Member for the Transportation Committee, Select Committee on Aging, and Veterans Affairs Committee. John also served as the mayor of Stratford for two consecutive four-year terms since 2009. Mayor Harkins led Stratford with a steady hand. By focusing on economic development, the town has grown significantly. With over 23 years of elected service and over 30 years as a small business owner John has been a strong advocate for his constituents. As a lobbyist, he is now focused on client advocacy and business development on both the state and local levels.