Research Tax Incentive Act

Research Tax Incentive Act - Amends the Internal Revenue Code to allow an additional ten percent investment tax credit for investment in research and experimental property for use in a trade or business. Denies such credit to taxpayers whose gross receipts were in excess of $250,000,000 for a taxable year or whose research and experimental expenditures did not exceed 2.5 percent of their gross receipts for a taxable year. Extends the investment tax credit to buildings and structural components used in research and experimentation. Requires the recapture of credit amounts if investment property ceases to be used for research and experimentation purposes.

Allows the amortization of research and experimental property, in lieu of the additional investment tax credit, based on a period of not less than 60 months.