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Rhode Island and the Research and Development (R&D) Tax Credit
State Credit Name: Credit for Qualified Research Expenses
Expiration Date: Permanent
Who Can Apply? Corporations and flow-through entities
Credit Carry Forward: Unused credit can be carried forward for 7 years.
About the Credit: The credit rate is 22.5% for QRE’s up to $111,111 and 16.9% for the remaining QRE’s, which exceed the base period expenses. QRE’s and base period expenses are defined the same as for the federal credit in IRC Section 41.
Notes: The credit is applied to 50% of the tax due after all other credits available have been applied.
Are you eligible?
Why choose us?
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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 270 Bellevue Avenue, Newport, Rhode Island provides R&D tax credit consulting and advisory services to Providence, Warwick, Cranston, Pawtucket and East Providence.
If you have any questions or need further assistance, please call or email our local Rhode Island Partner on (401) 406-8880.
Feel free to book a quick teleconference with one of our Rhode Island R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.
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Rhode Island Office
Swanson Reed | Specialist R&D Tax Advisors
