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The Texas R&D tax credit is up to 5% of excess qualified research expenses, refundable and permanent as of June 22, 2025, replacing the previous version. Contact Strike Tax to maximize your savings.
Activities must meet federal IRC § 41 criteria and be conducted in Texas, including research for product or process improvement. Strike Tax can identify qualifying projects.
Yes, startups can claim the credit, and the federal R&D credit with payroll tax offsets up to $500,000 per year for up to five years if gross receipts are under $5 million; refundability aids startups. Strike Tax can guide eligibility.
Maintain contemporaneous records like project descriptions, time tracking, and expense logs. For 2025, Form 6765 requires Section G for business component details on claims over $10,000. Strike Tax ensures audit-ready documentation.
Claim on your franchise tax report; ordering rules for prior credits. For federal, file Form 6765. Strike Tax streamlines the process.
New credit permanent as of June 2025, enhanced and refundable, repealing sales tax exemption; federally, Form 6765 adds Section G, and Section 174 restores full expensing. Strike Tax can help navigate these updates.
