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For more information about the R&D Tax Credit for Hemp and CBD sub-industries,
please visit www.hemptaxcredit.com
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R&D Tax Credit
Payroll Tax Credit
Credits by State
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Section 174
Frequently Asked Questions
Payroll Tax Credit
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The Payroll Tax Credit is an extension of the R&D Tax Credit that allows qualified small businesses (QSBs) to use their federal R&D tax credits to offset their payroll. Learn more about the Payroll Tax Credit here.
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The Payroll Tax Credit is an extension of the R&D Tax Credit that allows qualified small businesses (QSBs) to use their federal R&D tax credits to offset their payroll. Learn more about the Payroll Tax Credit here.
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Aerospace EngineeringSpace ExplorationSatellite TechnologyJet Propulsion & RocketryGovernment ContractorsFirearms, Ammunition, & Missile Defense
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Frozen Foods
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ArchitectureCivil EngineeringConstruction EngineeringElectrical EngineeringEnvironmental EngineeringLEED / Sustainable ArchitectureMechanical Engineering
Product EngineeringStructural Engineering
For more information about the R&D Tax Credit for Hemp and CBD sub-industries,
please visit www.hemptaxcredit.com
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Manufacturers (OEMs)
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Orphan Drug DevelopmentPackagingPharmaceutical Development / ReformulationReagent DevelopmentVaccines
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R&D Credit Calculator
Federal Credits
Credits by State
Payroll Tax Credit
Section 174
Frequently Asked Questions
Discover how much you can claim in R&D tax credits for expenditures on the development of new software, technology, products and processes. Calculate how much you’re owed.
Learn more about Federal Credits and recover up to 10% of your R&D spend from the IRS. Qualified small businesses can offset payroll taxes up to $250,000 per year.
Does your state offer R&D tax credits? Depending on the state where the R&D activities are performed, companies can offset various tax liabilities. Learn more about the R&D Tax Credits specific to your state.
The Payroll Tax Credit is an extension of the R&D Tax Credit that allows qualified small businesses (QSBs) to use their federal R&D tax credits to offset their payroll. Learn more about the Payroll Tax Credit here.
Due to the revisions made to Internal Revenue Code Section 174 under the TCJA, R&D expenditures are no longer deductible beginning in the 2022 tax year. Learn how Section 174 impacts your business.
Most companies don't believe they qualify for specialty business tax credits. Our Experts are here to demystify these credits. Check our frequently asked questions about R&D tax credits.
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Software & Technology

Blockchain

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With just a little info, our Strike Experts can help you start your R&D tax credit journey.

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HomeIndustriesSoftware & TechnologyBlockchain

Invented in 2008, blockchain began as a payments ledger for cryptocurrency giant Bitcoin. The open-source technology gives companies the capability to securely track any type of data set within numerous applications. Blockchain is a decentralized technology for making permanent, time-stamped digital records, and technology companies are researching numerous applications to real-world situations. Processing and storing large amounts of data and improving upon existing tracking systems require extensive research and development (R&D). If your blockchain company develops, tests, or secures platforms, you may be able to take advantage of the R&D Tax Credit to recoup costs spent on innovation.

Employee wages, supplies, cloud computer rental, and third-party contractor costs associated with research and development activities are considered qualified research expenses (QREs). Companies can receive refunds of up to 22% of total QREs through federal and state tax credits, depending on the state in which your business operates. 

Examples of qualifying activities: 

  • Improving data privacy and protection
  • Implementing quality and performance improvements of blockchain platforms
  • Developing smart contracts (e.g. lease agreement, peer-to-peer loans) 
  • Developing new applications for sensitive data (e.g. electronic health records)
  • Securing source code on the blockchain

Do you have these job titles on your payroll, or do you hire third-party contractors to do these jobs? 

  • Blockchain Developers
  • Blockchain Engineers
  • Computer Scientists
  • Legal Consultants
  • Project Managers
  • Quality Assurance (QA) Engineers
  • Security Engineers
  • User Interface (UI) Designers

‍
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