Examples of Qualified research in a sentence
Qualified research must satisfy all of the following tests to qualify:• The activity must be undertaken for the purpose of discovering information which is technological in nature;• The application of technological information must be intended to be useful in a new or improved business component; and• Substantially all of the activities related to the research effort must constitute elements of a process of experimentation relating to a new or improved function, performance, reliability or quality.
Qualified research does not include any research to the extent funded by any grant, contract, or otherwise by another person (or gov- ernmental entity).
Qualified research does not include research in the social sciences (including economics, business management, and behavioral sciences), arts, or humanities.
Qualified research expenses are equal to the sum of in-house research expenses and contract research expenses for research conducted in Wisconsin.
Qualified research expenditures include in-house expenses for taxable wages paid, and usual fringe benefits specific to research activities of employees of the business or for wages and usual fringe benefits paid through contractual agreements, approved in writing by the Executive Director, with a state college, an Arkansas state university, or other Arkansas-based research organization to perform research for a targeted business.