Sec. 202. Doubling the research and experimental tax credit and better access to credits for startups
138 words·~1 min read·
/bill/116/hr/11/ih/section-202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 41(a) of the Internal Revenue Code of 1986 is amended by striking 20 percent and inserting 40 percent . Section 41(c)(4)(A) of such Code is amended by striking 14 percent and inserting 28 percent . Section 41(c)(4)(B)(ii) of such Code is amended by striking 6 percent and inserting . 1/2 the credit percentage in effect under subparagraph
(A)Paragraphs (4)(B)(i) and (5)(B)(ii) of section 41(h) of such Code are each amended by striking $250,000 and inserting $500,000 . Section 41(h)(3)(A)(i)(I) of such Code is amended by striking $5,000,000 and inserting the dollar amount in effect for the taxable year under section 448(c)(1) .
(a)The amendments made by subsection
(a)shall apply to taxable years beginning after December 31, 2020.
(b)The amendments made by subsection
(b)shall apply to taxable years beginning after December 31, 2019.