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Form 6765 for C Corporation
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YKubis
Level 3
Saturday
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Hello lovely community,
I have a C Corp client (manufacturing business) and it qualifies as a small business. The new Form 6765 is a bit confusing so I would like to get some clarity from those with an extensive experience in the R&D field. The questions are:
1- Can a C Corp (small business) elect the payroll tax credit, or it strictly must use the actual R&D credit to off set its profit?
2- The IRS instruction for Form 6765, line 45 is very confusing. It assume that section G was answered, which is not my case. So how do I know what % I should apply to the Contract Research amount (100%, 75%, or 65%)? I looked up Section 41(b)(3) to see which % my client belong to but without a luck.
Any help would be highly appreciated.
Thanks
YK
