Pennsylvania R&D Tax Credit Summary

R&D Tax Credit Available

Yes

STATE

Pennsylvania

NAME

Research and Development Tax Credit

DOES IT APPLY TO C-CORPS & PASS THROUGHS?

Yes

DESCRIPTION

Nonrefundable credit with similar definition to federal for Qualified Research Expenses and Qualified Research Activities, except only include Pennsylvania-based expenses.

PERCENTAGE

10% (20% for “small business”) on incremental expenses over base amount. Base amount is average expenses from four prior years.