Alternative simplified credit

In accounting, alternative simplified credit means the research creditResearch creditResearch creditA federal general business credit for qualified research expenses — computed on Form 6765 by the regular method or the alternative simplified credit, used against income tax, carried back one year and forward twenty when unused, or, for a qualified small business, elected against payroll tax computed as 14% of QREsResearch creditQualified research expensesWhat the credit is computed on: wages for qualified services — doing, directly supervising or directly supporting qualified research (all of a person's wages once that is 80% or more of them) — plus supplies used in the research, rented off-site computers, and 65% of contract research paid to others above 50% of the average QREs of the three prior years, or 6% of current QREs if any one of those years had none; elected on a timely filed original return (or an amended one only if no creditFoundationsCreditThe right column. It increases liabilities, equity and revenue, and decreases assets and expenses. was claimed for that year) and binding for later years unless revoked.