SMB Engaged in Innovative Activities
A corporation is a small or medium-sized business (SMB) engaged in innovative activities for a given calendar year if, during the year,
- it carries on a business in Québec and has an establishment there;
- its assets (including those of any associated corporations), calculated on a worldwide basis, are less than $50 million for its taxation year ending in the calendar year preceding the given calendar year or, where the corporation is in its first fiscal year, at the beginning of its first fiscal year;
- a refundable tax credit for scientific research and experimental development (R&D) is granted to the corporation for its taxation year ending in the given calendar year or for one of the three previous taxation years.