What are the specific documentation requirements for the California research credit?
With few exceptions, the State of California conforms to the federal research credit computation. Treasury Decision 9104 eliminated the “unique” documentation requirements to define qualified research under Treasury Regulation Section 1.41-4(d). However, taxpayers are obligated to follow the broader language of the current Treasury Regulation Section 1.41-4(d), the requirements of Internal Revenue Code (IRC) Section 6001, and established case law related to record keeping (Revenue and Taxation Code Section 19504; New Colonial Ice Co v. Helvering, 292 US 435 [78 L.Ed. 1348](1934)).
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- What are the specific documentation requirements for the California research credit?
