R&D Tax Credit Available:
C-Corporations, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with Indiana Tax Return
Data Required to Compute Credit:
- Claim Period Qualified R&D Expenses (QREs)
- QREs for Prior 3 Years
- Gross Receipts for Prior 4 Years
R&D Credit Summary:
The R&D tax credit equals:
- 15% of the increase in Indiana qualified research expenses over the base amount up to $1 million
- The credit is 10% if the amount is in excess of $1 million.
Alternative Incremental Credit Method:
- 10% of the excess of Indiana QREs that is in excess of 50% of the average of the preceding three years' QREs.
- Credit amount is 5% of Indiana QREs if there are no expenses in the three prior years.