118th Congress Taxation
H.R. 6685: Research and Development Tax Credit Expansion Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill modifies the refundable research tax credit for new and small businesses to (1) provide for an inflation adjustment to the limit on credit refundability; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).
The bill also increases the rate of the alternative simplified tax credit for such businesses.
Written by the Congressional Research Service, Library of Congress.
Roll calls
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Amendments
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Other bills by Joe Neguse
History
- Introduced in the House by Joe Neguse.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.