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Credit for Increasing Research Activities (R&D Credit)
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If your business paid certain research and development (R&D) expenses in Minnesota, you may qualify for a credit for increasing research activities (R&D credit).
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You may qualify if both of these are true:
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You’re a partner in a partnership or shareholder in an S corporation
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The partnership or business had qualifying R&D expenses in Minnesota that exceeded its “base amount” (as calculated for the federal R&D credit, but based on Minnesota gross receipts)
Qualifying expenses include either of these:
- R&D expenses that qualify for the federal R&D credit and are for research done in Minnesota
- Contributions to qualified nonprofit organizations that make grants to small, technologically innovative businesses in Minnesota during their early development stages