TAX PRACTICE CORNER.

The article discusses U.S. tax practices and the extension of a research and development (R&D) tax credit under Section 41 of the American Taxpayer Relief Act of 2012. Qualified research expenditures are addressed, along with a comparison of the R&D tax incentives in countries such as Australia and France. Business competition and technological innovations in the U.S. are mentioned, along with British corporate income tax rates.