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Unadjusted Credit Example: Fewer Than 250 Employees, Base Amount Is Zero (No Prior MQREs)
Unadjusted Credit Example: Fewer Than 250 Employees, Base Amount Is Zero (No Prior MQREs)
An eligible business with fewer than 250 employees is claiming the Research and Development (R&D) Tax Credit and needs to calculate its unadjusted credit for the current expense year.
Inputs
- Base amount: $0
- Expense year MQREs: $40,000
- Michigan research university MQREs: $0
Calculation
Standard credit = (3% × $0) + (15% × ($40,000 − $0))
= $0 + $6,000
= $6,000
Michigan research university credit = N/A
Unadjusted credit = $6,000