A nonrefundable tax credit is available for incremental research expenses paid or incurred after June 30, 1981, and before January 1, 1989. ... 196 and no deduction is permitted for any unused credit carryforward at the expiration of the carryforward period in the year ... Thus, research expenses paid or incurred by a taxpayer in developing a product the sale of which would constitute a new trade oranbsp;...
|Title||:||STANDARD FEDERAL TAX REPORTER 1988 VOL. 1|