independent research and development expenses
Defined in 1 place of the United States Code.
For purposes of paragraph (4), the term “independent research and development expenses” means any expenses incurred in the performance of research or development, except that such term shall not include—
(A) any expenses which are directly attributable to a long-term contract in existence when such expenses are incurred, or
(B) any expenses under an agreement to perform research or development.
Source
- 2010–present26 U.S.C. § 460Internal Revenue Code · Special rules for long-term contracts · in this section
For purposes of paragraph (4), the term “independent research and development expenses” means any expenses incurred in the performance of research or development, except that such term shall not include—
(A) any expenses which are directly attributable to a long-term contract in existence when such expenses are incurred, or
(B) any expenses under an agreement to perform research or development.
For purposes of this section—
Source
- 1994–201026 U.S.C. § 460Internal Revenue Code · Special rules for long-term contracts · in this section