RESEARCH AND DEVELOPMENT TAX CREDIT

Eligibility: Businesses qualifying for the federal R&D tax credit and making R&D investments in PA

Eligible Uses: Applied research and development expenditures

Where to Apply: Pennsylvania Department of Revenue

Amounts:

• 10% tax credit of company’s increased research and development expenses over a base period (prorated to not exceed $15 million annual cap for all businesses)
• Up to 20% of total pool set aside for small businesses

Terms/Conditions:

Applicable to CNI, CSFT and PIT tax liability; Unused credits may be carried over for up to 15 succeeding taxable years