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Increased R&D Tax Credits for Small Businesses

This act doubles the maximum refundable research and development tax credit for small businesses from $250,000 to $500,000. Additionally, this credit can now be used against Medicare and unemployment taxes, potentially offering significant financial relief to new and small enterprises. These changes aim to foster innovation and job creation.
Key points
The maximum refundable R&D tax credit for small businesses increases from $250,000 to $500,000.
The credit amount will be adjusted annually for inflation, preserving its value over time.
The credit can now be applied against Medicare and unemployment taxes, broadening its utility.
The eligibility threshold for small businesses to claim the credit rises from $5 million to $10 million in gross receipts.
More favorable rates for the alternative simplified R&D credit are introduced for qualified small businesses, including special rules for the first year of research expenses.
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Status:
Expired
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Additional Information
Print number: 117_HR_6344
Sponsor: Rep. Neguse, Joe [D-CO-2]
Process start date: 2021-12-23
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Research and Development Tax Credit Expansion Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6344.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-12-23.

What are the main provisions?

Key points include:

  • The maximum refundable R&D tax credit for small businesses increases from $250,000 to $500,000.
  • The credit amount will be adjusted annually for inflation, preserving its value over time.
  • The credit can now be applied against Medicare and unemployment taxes, broadening its utility.
  • The eligibility threshold for small businesses to claim the credit rises from $5 million to $10 million in gross receipts.
  • More favorable rates for the alternative simplified R&D credit are introduced for qualified small businesses, including special rules for the first year of research expenses.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Neguse, Joe [D-CO-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Economy