Research and Development Tax Credit Expansion Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Dec 23, 2021)
Research and Development Tax Credit Expansion Act of 2021
This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).
The bill also increases the rate of the alternative simplified tax credit for such businesses.
What just happenedDec 23, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseDec 23, 2021
- Dec 23, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Dec 23, 2021IntroReferralIntro-H
Introduced in House
- Dec 23, 2021IntroReferral1000
Introduced in House