The research and development (R&D) tax credit was created to incentivize companies in numerous industries to keep high-tech jobs here in the United States. See our industry- specific pages to learn more about qualification criteria – what your company is working on right now may be eligible for significant tax breaks.
The inherent innovation required to propel these industries forward makes them ideal candidates for claiming the R&D Tax Credit. Technological advances, contract work for NASA, the DOD, or other government agencies, could translate to increased capital to reinvest in your company.
The global adult beverage market is growing, and the continual innovations required for companies to stay competitive require significant investments in R&D. Your company can recoup up to 20% of these expenses through federal and state tax credits.
Building design has evolved - LEED-certified, green, energy efficient, and many others - and so have the processes needed to implement and deliver your client’s vision. Your innovation could be rewarded with significant tax incentives from the IRS.
The food and beverage industries are constantly evolving to keep pace with consumer tastes and trends. The research and development your company is investing in could translate into significant tax savings with the R&D Tax Credit.
Are you growing, extracting, or formulating? Are you a company optimizing crop yield through the use of novel seed genetics? Are you developing innovative extraction techniques for industrial hemp? Are you making CBD formulations or consumables? These activities and many others may qualify for significant tax credits as a result of the 2018 Farm Bill.
It doesn’t take reinventing the wheel to qualify for R&D Tax Credits. If your company has improved upon an existing process, made it more efficient, increased output, added automation capabilities, or any number of other activities related to the manufacturing of new or existing products, you most likely qualify.
Many of the steps along the medical device and pharmaceutical development pipeline qualify for R&D Tax Credits. Designing treatment, testing in the lab and in preclinical studies, developing, manufacturing, and testing again in humans - all require significant investments in R&D.
Most stages of the software development process qualify as R&D, and software companies recoup some of the highest – on average up to 55% – of their R&D expenditures compared to other industries. Planning, creating, improving, testing, and implementing are all qualifying activities.