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President Obama signs Small Business Act of 2010 into law on September 27, 2010:
- Section 2012 allows carrybacks for unused credits up to five years.
- Section 2013 allows taxpayers to avoid previously restrictive AMT limitation in using their R&D credits.
Although the current credit expired December 31, 2009, there are two different bills in Congress proposing extension. Votes are expected shortly.
For more details on these and other related issues please contact our R&D experts.
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