§ 05930II - Research and development tax credit - Vermont Statutes

§ 5930ii. Research and development tax credit

(a) A taxpayer of this state shall be eligible for a credit against the tax imposed under this chapter in an amount equal to 30 percent of the amount of the federal tax credit allowed in the taxable year for eligible research and development expenditures under Section 41(a) of the Internal Revenue Code and which are made within this state.

(b) Any unused credit available under subsection (a) of this section may be carried forward for up to ten years. (Added 2009, No. 2 (Sp. Sess.), § 22.)