Final answer:
The Disabled Access Credit aims at helping small businesses to improve accessibility for individuals with disabilities, with a tax credit rate of 50% for qualifying expenses.
Step-by-step explanation:
The Disabled Access Credit is designed to encourage businesses, specifically small businesses, to make their facilities more accessible to individuals with disabilities. The correct answer to the rate at which the credit is calculated for eligible expenditures is 50% of the eligible access expenditures for the taxable year that exceed $250 but do not exceed $10,250. It is crucial to note that this tax incentive is directed towards businesses that meet the criteria of having gross receipts for the preceding tax year that do not exceed $1 million, or if it had no more than 30 full-time employees during the preceding tax year, hence it is not aimed at large businesses but at smaller establishments.
The purpose of this credit, formulated under the Americans with Disabilities Act (ADA), is to help cover the cost of making access improvements for customers and employees with disabilities. Eligible expenditures might include things like removing barriers, providing accessible means of egress to properties, or altering equipment to be disability-friendly.