Science & Technology Policy
The Detrimental US Tax Policy on Research and Development
Opening
The US Tax Code allows businesses and taxpayers to deduct what are called “research and experimentation expenses” from their income before paying taxes, provided those expenses are “qualified,” according to Section 174 of the tax code. In addition, Section 41 permits a tax credit for increases in research and development (R&D) expenditures over a baseline amount, as long as those expenses qualify under Section 174 and satisfy certain other conditions.
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