Efforts made to design and develop new products and manufacturing processes for improved performance and efficiency in the tool and die industry can qualify for research and development tax credits.
Companies performing research and development (R&D) activities in the state of Florida may be eligible to receive state R&D tax credits with certain qualifications.
If your company operates in the water treatment industry there is a good chance that you would benefit from the R&D credit.
If your company is conducting 3D printing research and development activities, you may qualify for and benefit from R&D tax credits.
Engineers, manufacturers, and other individuals engaging in current research and development of drone technology are eligible for R&D federal and state tax credits.
Bakers and chefs utilizing 3D printing should be taking full advantage of the R&D tax credits offered by the IRS.
Plant based food businesses must be able to change and adapt to the new dietary trends and consumers’ ever-changing personal eating habits. These efforts to create better plant based products or more nutritious products typically involve extensive experimentation and testing of new formulations, recipes, process parameters, and packaging methods. Research and development tax credits are available to support companies that are actively creating or improving these ways.
Companies utilizing nutritional science across the U.S. in the fields of food processing, laboratories, hospitals, health food producers, vitamin and dietary supplements are just some candidates for the R&D tax credit.
On January 1, 2016 North Carolina repealed their state R&D tax credit. It's important to note that unused North Carolina R&D tax credits may be carried forward for up to 15 years.
Companies developing and researching new mobile app technology should be putting the R&D tax credit to use.