Credit Name: ORC Section 5733.351
Expiration Date: Permanent
Does it apply to C corps and pass-through entities?: Applies to C-corps Can be used by S-Corps paying Commercial Activity Tax (CAT) after 2008.
Credit Carry forward: Carry Forward 7 years
Description: QREs follow the same definition as the Federal. Credit is equal to 7% of the current year QREs that exceed the average of the previous 3 years qualified research expenditures.
Other Notes: Non-refundable, can offset CAT tax incurred in for years after tax year 2008.