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The research activities credit is the greater of the incremental research credit.
The incremental research credit, the credit for basic research payments to universities and other qualifying organizations, and the credit for energy consortium payments are the three individually computed credits that make up the research credit.
The incremental research credit, which typically applies to the taxpayer's increased research expenses over a base period, is the most well-known part. However, taxpayers have the option to choose a different, simpler credit that does not call for higher research expenses.
The overall research credit might be decreased by taxpayers in order to raise the amount of pre-2022 or post-2021 research expenses that can be written off or amortized. For more information on amortized and deductible research expenses, see Business Expenses: Research and Experimental Expenses.
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