iA

© 2020 incentAdvise

GET IN TOUCH:

33302 Valle Road, Suite 200

San Juan Capistrano, CA 92675

  • White Google Places Icon
  • White LinkedIn Icon

WHAT COMPANIES ARE ELIGIBLE SMALL BUSINESSES?

An Eligible Small Business must meet the following requirements:

1. Reported Gross Receipts for five years or less.  Beginning with taxable years beginning after January 1 2016, an eligible business cannot must not have reported Gross Receipts prior to the 2012 tax year.

2. Recognize less than $5 million in Gross Receipts in the current year, and for each subsequent year the credit is elected.

3. Qualifying research activities and expenditures.

Taxpayers are allowed to elect up to $250,000 of the R&D credit against their payroll tax liability.