A large company qualified for R&D Tax Credit can use the benefit to offset its corporate income tax.
Since the introduction of R&D Tax Credit in 1981, many companies received significant dollar-for-dollar reduction of their federal (and state, if applicable) income tax liability. Qualified activities can be calculated as a QRE (Qualified Research Expenses), and the final benefit amount can be used to offset the company's corporate income tax. The cash benefit can be used to reinvest back to the R&D activities, or use toward other business operations.
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* Please note that the information presented on this page are to be regarded as general information, and should not be interpreted as tax, financial, or legal advice.