S. 1639 IS – Research and Development Credit
This bill was enacted on December 22, 2024.
Section 1. Short title; table of contents
Sec. 1. Short title; table of contents
- (a) Short title
- (b) Table of contents
“SEC. 1639. SHORT TITLE; TABLE OF CONTENTS
Sec. 1639. Short title; table of contents
(a) Short title
- (1) Credit for qualified research expenses, and other research activities
- (2) Effective date of certain provisions
- (3) Extension of limitation on election to make certain changes in tax law
(b) Table of contents
- (1) Credit for qualified research expenses, and other research activities
- (2) Effective date of certain provisions
- (3) Extension of limitation on election to make certain changes in tax law
(c) Credits for qualified research expenses, and other research activities
- (1) Credit allowed under section 41(a), modified by subsection (b)
- (2) Credit allowed under section 41(c), modified by subsection (d)
(d) Effective date of certain provisions
- (1) Credit allowed under section 41(a), modified by subsection (b), applies to tax year beginning after December 31, 2024
- (2) Extension of limitation on election to make certain changes in tax law, for taxable years beginning after January 1, 2025
(e) Credit allowed under section 41(a), modified by subsection (b)
- (1) General rule, and special rules for qualified small businesses
SEC. 1639.
Credit for qualified research expenses, and other research activities
Sec. 1639(a) Credit allowed under section 41(a), modified by subsection (b)
(1) Credit allowed under section 41(a), modified by subsection (b), applies to tax year beginning after December 31, 2024
(2) For taxable years beginning after January 1, 2025, and before January 1, 2036, the credit is $600 per qualified research expense,
Credit allowed under section 41(a), modified by subsection (b)
(a) General rule, and special rules for qualified small businesses;
(b) Special rule for qualified small business.
(1) Applicability to certain taxpayers, and rules relating to the application of this section;
(2) Credit allowed under section 41(a), modified by subsection (b), applies to tax year beginning after December 31, 2024
Sec. 1639(b) Extension of limitation on election to make certain changes in tax law
(1) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025;
(2) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025;
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(1) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(2) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section 41(c), modified by subsection (d)
(a) Credit allowed under section 41(c), modified by subsection (d), applies to taxable years beginning after January 1, 2025
(b) For taxable years beginning after January 1, 2026, and before January 1, 2037, the limit on the credit is $650 per qualified research expense,
Credit allowed under section
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