Write a memo

Oriole Corporation is a large wholesaler of office products. To remain COMMUNICATIONS successful in a fiercely competitive industry, Oriole has automated and computerized many of its business operations. Specifically, the corporation has developed several new software programs to: l Maintain files of customer histories. l Create a paperless invoicing system. l Develop a computer-to-computer order entry system. l Monitor inventory levels more closely. Oriole estimates that it spent more than $1 million to develop and test the new software programs that are used throughout the business. To date, Oriole has not sold the software programs to the public, but it is contemplating doing so. Oriole has claimed a research and experimentation deduction for the costs associated with developing the software programs.

The corporation also wants to claim the research activities credit relating to the software development. Can Oriole do so?

Write a memo to the tax research file summarizing your conclusions.

Solution:

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