basic research payment
Defined in 1 place of the United States Code.
The term “basic research payment” means, with respect to any taxable year, any amount paid in cash during such taxable year by a corporation to any qualified organization for basic research but only if—
(i) such payment is pursuant to a written agreement between such corporation and such qualified organization, and
(ii) such basic research is to be performed by such qualified organization.
Source
- 1994–present26 U.S.C. § 41Internal Revenue Code · Credit for increasing research activities · for purposes of this section