ARM 42.4.3202. CREDIT FOR INCREASING RESEARCH ACTIVITIES

(1) A credit for increases in qualified research expenses and basic research payments that occurred prior to January 1, 2011, is allowed to a qualified corporation, an individual, a small business corporation, a partnership, a limited liability partnership, or a limited liability company. Except as specifically limited by 15-31-150, MCA, (2017) this credit is determined in accordance with 26 USC 41 as that section read on July 1, 1996. (2) For tax years beginning after December 31, 2010, no current year credit may be claimed. Only unused amounts available as a carry forward under 15-31-150, MCA, may be claimed for the 15 succeeding tax years. The credit can be claimed by including a detailed schedule of the credit carryforward when the return is filed.