Research Tax Credit

Research and experimental ex­penses; environmental impact studies. A public utility company conducted, and paid another orga­nization to conduct, environmental impact studies to support its appli­cation to state regulatory agencies to expand its generating facilities. The expenses are not research and experimental expenditures within the meaning of section 174 of the Code. However, if not chargeable [...]

Industrial development bonds; exempt small issue; capital expend­itures. Expenditures incurred by a nonexempt corporation for research and experimental activities with re­spect to a proposed facility to be financed by the industrial develop­ment bonds of a political subdivi­sion of a state are capital expendi­tures within the meaning of section 103(b)(6)(D) of the Code, even though the [...]

Election to defer research and experimental expenditures . For tax­able years ending after August 29, 1976, the claim on a tax return of a deduction for a portion of re­search and experimental expenses incurred, without a written election statement, will not be treated as an election to defer and amortize such expenses; Rev. Rul. 71-136 [...]

Mining; research and experimental expenditures . A domestic mining corporation’s expenditures incurred directly in the development of prototype mining equipment and in perfecting a new metallurgical process, including the cost of shipping mineral samples to the research laboratory, are research and experimental expenditures deductible under section 174(a) of the Code. However, the expenses for driving [...]