Form 150-102-128 - Qualified Research Activities Credit - Oregon Department Of Revenue

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Qualified Research Activities Credit

Name of taxpayer (as shown on return)

Tax year

FEIN

BIN

Method 1—Credit Based on Federal Computation (ORS 317.152)

Part I. Payments for Basic Research: (Include only amounts paid or incurred in Oregon)

[Internal Revenue Code (IRC) §41(e)]

1. Basic Oregon research payments to qualified organizations .......................................................................1.

2. Less: Base period amount ...........................................................................................................................2.

3. Subtract line 2 from line 1. If less than zero, enter -0- .................................................................................3.

Part II. Qualified Research Expenses: (Include only amounts paid or incurred in Oregon)

[IRC §41(b)]

4. Qualified research expenses in Oregon for current tax year ........................................................................4.

5. Enter fixed-base percentage, but not more than 16 percent .......................................................................5.

6. Enter average federal gross receipts ...........................................................................................................6.

7. Base amount. Multiply line 6 by the percent on line 5 .................................................................................7.

8. Subtract line 7 from line 4. If less than zero, enter -0- .................................................................................8.

9. Multiply line 4 by 50 percent (0.50) ..............................................................................................................9.

10. Enter the lesser of line 8 or line 9 ...............................................................................................................10.

11. Add line 3 and line 10 .................................................................................................................................11.

12. Multiply line 11 by 5 percent (0.05) ............................................................................................................12.

13. Maximum credit— For tax years beginning on or after January 1, 2012: $1,000,000 ...............................13.

For tax years beginning on or after January 1, 2006 and before January 1, 2012: $2,000,000

For tax years beginning prior to January 1, 2006: $500,000

14. Research tax credit (lesser of lines 12 or 13) .............................................................................................14.

Method 2—Credit Based on Oregon Sales (ORS 317.154 and OAR 150-317.154)

1. Qualified research expenses in Oregon for current tax year ........................................................................1.

2. Oregon sales (per Oregon sales factor numerator) ......................................................................................2.

3. Multiply line 2 by 10 percent (0.10) ..............................................................................................................3.

4. Subtract line 3 from line 1. If less than zero, enter -0- .................................................................................4.

5. Multiply line 4 by 5 percent (0.05) ................................................................................................................5.

Qualified Research Expenses

6. Divide line 1 by line 2 ...................................................................................................................................6.

Oregon Sales

7. Percentage points. Multiply line 6 by 100 (example: 0.3025 x 100 = 30.25) ...............................................7.

-10.00

8. Excess percentage points. Subtract 10 (10.00) percent from line 7 (example: 30.25 - 10.00 = 20.25) ......8.

-100,000.00

9. Limitation. Multiply line 8 by $10,000 (example: 20.25 X $10,000 = $202,500) ...........................................9.

10. Maximum credit— For tax years beginning on or after January 1, 2012: $1,000,000 ...............................10.

For tax years beginning on or after January 1, 2006 and before January 1, 2012: $2,000,000

For tax years beginning prior to January 1, 2006: $500,000

11. Research tax credit (lesser of lines 5, 9, or 10) ..........................................................................................11.

Allowable Credit

Available Research Tax Credit. You may claim either line 14, Method 1; or line 11, Method 2 .............................

Carryover of unused credits from prior years .........................................................................................................

Note: The current year credit and any credit carryforward are claimed separately on the Oregon return.

Attach this form to your Oregon Corporation Tax Return

150-102-128 (Rev. 10-12)

Form Qualified Research Credit, page 1 of 1