H.R.5681 - Innovation Tax Credit Act of 2008

To amend the Internal Revenue Code of 1986 to provide incentives to improve America's research competitiveness, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Innovation Tax Credit Act of 2008 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to provide incentives to improve America's research competitiveness, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
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President
Signs
 

 
04/01/08
 
 
 
 
 
 
 

Official Summary

4/2/2008--Introduced.Innovation Tax Credit Act of 2008 - Amends the Internal Revenue Code to revise the tax credit for increasing research activities by: (1) phasing in increases in the alternative simplified tax credit rate through 2009; (2) establishing a 20% alternative simplified tax c

Official Summary

4/2/2008--Introduced.
Innovation Tax Credit Act of 2008 - Amends the Internal Revenue Code to revise the tax credit for increasing research activities by:
(1) phasing in increases in the alternative simplified tax credit rate through 2009;
(2) establishing a 20% alternative simplified tax credit rate in 2010 in lieu of the standard research tax credit rate;
(3) increasing the amount of basic and contract research expenses eligible for such tax credit; and
(4) making such tax credit permanent.

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Recent Blog Coverage

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04/20/08
new bill to simplify r&d tax credit

his bill, the innovation tax credit act (hr 5681) would address these challenges by making the r&d tax credit permanent. at present, the credit is temporary and requires regular renewal by congress. this process has the effect of ...

Source: kyean
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04/17/08
OpenCongress - U.S. Congress - S.2884 Research and Development Tax ...

Related Bills:. S.41 · H.R.1712 · S.2209 · H.R.5681. Related Issue Areas:. Science policy · Research and development tax credit · Income tax · Business; 1 more; Taxation. Data from the Congressional Research Servic

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04/17/08
innovation tax credit act intended to simplify and stabilize r&d ...

congressman jerry mcnerney of california recently introduced the innovation tax credit act (hr5681) with the intention of simplifying and making permanent the research and development tax credit. introduced in 1981 originally, ...

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