Section 1 Short title
This Act may be cited as the “Research and Development Tax Credit Extension Act of 2013”.
Research and Development Tax Credit Extension Act of 2013
A BILL
To amend the Internal Revenue Code of 1986 to make the research credit permanent and to increase the alternative simplified research credit.
Sec. 2 Research credit made permanent; increase in alternative simplified research credit
Research credit made permanent—
In general— Section 41 of the Internal Revenue Code of 1986 is amended by striking subsection (h).
Conforming amendments—
Subsection (c) of section 41 of such Code is amended by striking paragraph (4).
Paragraph (1) of section 45C(b) of such Code is amended by striking subparagraph (D).
Effective date— The amendments made by this subsection shall apply to amounts paid or incurred after December 31, 2013.
Increase in alternative simplified research credit—
In general— Subparagraph (A) of section 41(c)(5) of such Code (relating to election of alternative simplified credit) is amended by striking “14 percent (12 percent in the case of taxable years ending before January 1, 2009)” and inserting “17 percent”.
Effective date— The amendments made by this subsection shall apply to taxable years ending after the date of the enactment of this Act.