Official Summary

4/17/2008--Introduced.Research and Development Tax Credit Improvement 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% a

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Official Summary

4/17/2008--Introduced.
Research and Development Tax Credit Improvement 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) extending such credit through 2012.


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