All taxpayers are eligible to take the basic research credit.

Question

Quizplus · Accepted Answer

The basic research credit, also known as the Research and Development (R&D) Tax Credit, is not available to all taxpayers. It is specifically designed for businesses that incur expenses for research and development activities in the United States. Eligibility is based on the nature of the expenses and the activities conducted, not all taxpayers engage in qualifying R&D activities.

All Taxpayers Are Eligible to Take the Basic Research Credit