R&D Tax Credit Available:
Deadline for Tax Filing:
Due with Connecticut Tax Return
Data Required to Compute Credit:
- Claim period Qualified R&D Expenses (QREs)
- Qualified Research Expenses for Prior 1 Year
RC: 15 Years
R&D Credit Summary:
Two credits are available for Connecticut (RC and RDC). The R&D tax credit equals:
- Incremental - RC: Multiply 20% of the excess of the qualified research and experimental expenses during the current claim year over the qualified research and experimental expenses during the prior year.
- Non-incremental - RDC: 6% of its research and development expenses. (Eligible for Qualified Small Businesses only)
- CT Non-incremental R&D credit (RDC) is only eligible for Qualified Small Businesses.
- Qualified Small Business is defined as a company that has gross income of less than $100M in the previous income year.