You may elect an alternative research credit (with lower fixed-base percentages and credit percentages). ... Generally, basic research payments are payments to tax-exempt organizations for the conduct of research with no immediate commercial objective. ... Businesses with gross receipts under $1 million or 30 or fewer full-time employees during the preceding tax year are eligible for the credit.
|Title||:||The Ernst & Young Tax Saver's Guide 2003|
|Author||:||Ernst & Young, Margaret Milner Richardson|
|Publisher||:||John Wiley & Sons - 2004-07-12|