Texas R&D Tax Credit Summary
R&D Tax Credit Available
Research & Development Tax Credit
DOES IT APPLY TO C-CORPS & PASS THROUGHS?
Can apply against Franchise Tax for all business entities.
Nonrefundable credit with similar definition to federal for Qualified Research Expenses and Qualified Research Activities, except only include Texas-based expenses.
5% on incremental expenses over base amount. Base amount follows federal ASC method.