Transcription of SEC. 41. CREDIT FOR INCREASING RESEARCH ACTIVITIES.
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SEC. 41. CREDIT FOR INCREASING RESEARCH ACTIVITIES.
SEC. 41. CREDIT FOR INCREASING RESEARCH (a) general purposes of section 38 , the RESEARCH CREDIT determined under this section for the taxableyear shall be an amount equal to the sum of--41(a)(1) 20 percent of the excess (if any) of--41(a)(1)(A) the qualified RESEARCH expenses for the taxable year, over41(a)(1)(B) the base amount, and41(a)(2) 20 percent of the basic RESEARCH payments determined under subsection (e)(1)(A).41(b) QUALIFIED RESEARCH purposes of this section--41(b)(1) QUALIFIED RESEARCH term qualified RESEARCH expenses meansthe sum of the following amounts which are paid or incurred by the taxpayer during thetaxable year in carrying on any trade or business of the taxpayer--41(b)(1)(A) in-house RESEARCH expenses, and41(b)(1)(B) contract RESEARCH (b)(2) IN-HOUSE RESEARCH (b)(2)(A) IN term in-house RESEARCH expenses means--41(b)(2)(A)(i) any wages paid or incurred to an employee for qualified servicesperformed by such employee,41(b)(2)(A)(ii) any amount paid or incurred for supplies used in the conduct ofqualified RESEARCH , and41(b)(2)(A)(iii) under regulati
41(b)(3)(C)(i) IN GENERAL.--Subparagraph (A) shall be applied by substituting “75 percent” for “65 percent” with respect to amounts paid or incurred by the taxpayer to a qualified research consortium for qualified research on behalf of the taxpayer and 1 or more unrelated taxpayers. For purposes of the preceding sentence, all persons ...
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