Research & Development Credits
Tax-Based Solutions
Research & Development
Tax Credits
Research and Development Tax Credits were made permanent by Congress in 2015. Dollar-for-dollar credit against taxes owed or paid. This credit was created to incentivize companies to innovate new goods and services.
- Four Part Test
- Permitted Purpose
- Elimination of Uncertainty
- Process of Experimentation
- Technological in Nature
- Eligible Expenses
- Wages
- Supplies
- Contract Research
- Basic research payments
- Special Rules
- Consistency Rule
- Controlled Groups
- Carry-forward and carry-back
Identified in R&D credits
Ideal Industries
- Manufacturing
- Software & Technology
- Engineering
- Food & Beverage
- Architecture
- Aerospace & Defense
- Industrial Hemp & CBD
- Medical Pharmaceutical
- Biotech
- Alcoholic Beverages
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