2021 California Tire Workshop Series and Presenters

R&D Corporate Income Tax Credit • Available to taxpayers engaged in qualified research activities in CA – claimed on tax returns • Qualified Research Expense • Wages, supplies, contract research costs • Include basic or applied research of scientific inquiry, original investigation for the advancement of scientific or engineering knowledge or improved function of a business component • 15% of the excess of current year research expenditures over a computed base amount (minimum of 50% of research expense) OR • 24% credit for basic research payments to 3 rd party organizations https://www.ftb.ca.gov/file/business/credits/california-research.html