What does it do?

Research and Development (R&D) is a unique tax credit:

• Helps reduce current and future years of state and federal tax liabilities.
• Dollar for dollar offset for state and federal income taxes.
• Instant source of cash for the small to mid-cap businesses.
• Businesses can apply the credit for all open tax years and the current year.

Many industries qualify for the credit, including:

• Engineering (Aerospace, Architecture, Defense Contracting, Engineering, and Telecommunications)
• Environmental & Life Sciences (Agriculture/Farming, Medical Devices, Pharmaceuticals, Recycling, Waste Management)
• Manufacturing & Design (Apparel/Textiles, Brewing, Consumer Food & Beverage, Distillery, Foundry/Metal/Mining, etc.)
• Software (Internet Applications, IT/Software Development, Startups, and Website Advertising/Marketing)

R & D Credit Eligibility:

• If the company attempts to create products that are lighter, faster, and less expensive or more durable, reliable, or precise, the R&D tax credit adds up to money they can reinvest in their business rather than pay out to the IRS or state governments.
• R&D credit eligibility is also much broader than many companies realize, applying to not only the development of products, but also activities and operations, such as new manufacturing processes, environmental improvements, software development, and quality enhancements.