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

for a manufacturer outside of Charleston, SC in 2022

Ideal Industries

  • Manufacturing
  • Software & Technology
  • Engineering
  • Food & Beverage
  • Architecture
  • Aerospace & Defense
  • Industrial Hemp & CBD
  • Medical Pharmaceutical
  • Biotech
  • Alcoholic Beverages

Contact Us

(843) 471-1221

(843) 350-4838

225 Seven Farms Dr. #207, Daniel Island, SC 29492

M-F: 8am-5pm, S-S: Closed