The field of vaccinology has undergone major technological advances over the past 30 years. If your company is exploring novel adjuvants, mRNA stabilization techniques, or any number of advances in vaccine development, you can offset your research expenses with the Research and Development (R&D) Tax Credit.
Employee wages, raw materials & 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.
Example activities that qualify:
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 what your potential state tax credit!