Rev. Rul. 71-363, 1971-2 C.B. 156

Expenditures by an advertising agency for investigative projects to develop new advertising concepts to be published in booklets issued to prospective clients are not research and experimental expenditures with­in the meaning of section 174 of the Code. Rev. Rul. 71-363 Advice has been requested whether the expenditures described below are research and experimental expendi­tures within […]