Environmental engineering firms develop innovative solutions to protect people and resources. They do this by assessing challenges and devising solutions that ensure clean water, clean energy, and healthy environments, just to name a few. Investments made in research and development (R&D) in these areas and many others can be claimed with the R&D Tax Credit.
Employee wages, raw materials and supplies, and third-party contractor costs associated with R&D 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:
Do you have these job titles on your payroll, or do you hire third-party contractors to do these jobs?
Benefits for the R&D Tax Credit vary from state to state. Get an accurate estimate of your potential state tax credit!