[ Text of section effective until July 3, 2008. For text effective July 3, 2008, see below.]
Section 38J. In determining the net income subject to tax under this chapter, a domestic or foreign business corporation may deduct, in addition to any other allowable deduction under this chapter, an amount equal to twenty-five per cent of the allowable deduction for any qualified research contribution, as defined in section one hundred and seventy (e)(4) of the Federal Internal Revenue Code as amended and in effect for the taxable year, to an educational organization, as therein defined, located in the commonwealth.
Chapter 63: Section 38J. Qualified research contribution deduction
[ Text of section as amended by 2008, 173, Sec. 75 effective July 3, 2008 for tax years beginning on or after January 1, 2009. See 2008, 173, Sec. 101. For text effective until July 3, 2008, see above.]
Section 38J. In determining the net income subject to tax under this chapter, a business corporation may deduct, in addition to any other allowable deduction under this chapter, an amount equal to twenty-five per cent of the allowable deduction for any qualified research contribution, as defined in section one hundred and seventy (e)(4) of the Federal Internal Revenue Code as amended and in effect for the taxable year, to an educational organization, as therein defined, located in the commonwealth.