Massachusetts S1935 proposes a super research and development tax credit for businesses conducting research in the state.
Massachusetts S1935 introduces a super research and development tax credit for businesses that conduct research within the state. This credit is limited to 50% of the taxpayer's tax due after other credits are applied. Corporations filing combined returns can apply credits across group members. Unused credits can be carried over for up to five years, with a maximum of 50% applied in any single year. The credit is based on the average of the last five years' qualified research expenses, increased by 50%.
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