State Credit Name: The Illinois Research and Development Credit (1299-D, lines 24-33)
Expiration Date: December 31, 2015
Who Can Apply? Corporations and Flow-through entities
Credit Carry Forward: Unused credit can be carried forward up to 5 years.
About the Credit: A non-refundable credit of 6.5% of the QRE’s for qualifying research activities performed in Illinois.
Notes: The Illinois Research and Development Tax Credit mimics the federal R&D credit.
Click here to find out if you qualify for the federal research credit.
Illinois Research and Development Tax Credit – SwansonReed
Learn more about the Illinois Research and Development Tax credit and how it can benefit your business.
Contact your local Swanson Reed office to speak with a representative in your area today.
Austin, TX 78701
Dallas, TX 75204
Houston, TX 77056