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Get Research And Development Tax Credit - 2016 Application (rev-545). Forms/publications
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How to fill out the Research And Development Tax Credit - 2016 Application (REV-545) online
This guide provides clear and comprehensive instructions on completing the Research And Development Tax Credit - 2016 Application (REV-545). By following these steps, you can ensure that your application is filled out accurately and efficiently.
Follow the steps to complete your application successfully.
- Click ‘Get Form’ button to access the Research And Development Tax Credit - 2016 Application (REV-545).
- Fill out the entity information section, which includes your start entity name, revenue ID or social security number, and street address. Ensure that your federal employer identification number is also entered correctly.
- Indicate if your business qualifies as a small business by checking the appropriate box, which necessitates submission of a balance sheet showing total assets of less than $5 million.
- In the calculation of credit section, start by entering your Pennsylvania-qualified R&D expenditures. Be sure to use whole dollar amounts and complete the annualized calculations if necessary.
- Complete lines for prior years' Pennsylvania R&D expenditures if applicable, providing the required amounts for each relevant tax year.
- Calculate the tentative Pennsylvania R&D credit based on the instructions provided, ensuring accurate summation and comparisons between lines 2 and 5.
- Review and complete the signature and verification section by having an authorized company officer sign the form. Include their printed name, title, contact information, and other required details.
- Ensure all sections are filled out entirely. Once verified, save changes, download, print, or share the completed form as needed.
Start completing your Research And Development Tax Credit application online now.
You could show it as other income, or net it off of R&D expenditure (if shown). You post the gross value of the RDEC above-the-line (other income), and the tax payable on this in the tax line of the income statement. As noted, if you capitalize your R&D costs, the accounting will differ from the above.
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