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Partners or Shareholders Share of 2016Illinois Department of Revenuers ending Research and Development CreditSchedule K1P (R&D)Supplemental Schedule To be completed by partnerships filing Form IL1065

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What is research and development credit?

Research and development credit is a tax credit designed to encourage businesses to invest in innovation and technological advancement.

Who is required to file research and development credit?

Businesses that have conducted qualified research activities may be eligible to claim the research and development credit.

How to fill out research and development credit?

To fill out research and development credit, businesses must provide detailed information about their qualified research expenses and activities.

What is the purpose of research and development credit?

The purpose of research and development credit is to incentivize businesses to innovate, create new products, and improve existing processes.

What information must be reported on research and development credit?

Businesses must report detailed information about their research activities, expenses, and any qualified research projects they have completed.

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