Rhode Island
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.
Click here to find out if you qualify for the federal research credit.
R&D Tax Credit Training for RI CPAs
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