minimum basic research amount
Defined in 1 place of the United States Code.
The term “minimum basic research amount” means an amount equal to the greater of—
(i) 1 percent of the average of the sum of amounts paid or incurred during the base period for—
(I) any in-house research expenses, and
(II) any contract research expenses, or
(ii) the amounts treated as contract research expenses during the base period by reason of this subsection (as in effect during the base period).
Source
- 1994–present26 U.S.C. § 41Internal Revenue Code · Credit for increasing research activities · for purposes of this section