Start-ups and small to medium size companies can be using all or part of their R&D credits against their payroll tax liability.
With careful planning and the understanding of applicable state tax codes, cannabis entrepreneurs can take proactive steps to reduce their state tax liabilities.
For companies that are carrying out innovative work in LED technology in the United States, R&D tax credits are a valuable resource.
R&D tax credits should not be overlooked by any industry that is performing daily research for their nanotech business, as they could be losing valuable profits.
Many of the activities conducted by restaurant technology and software companies qualify for the R&D tax credit.
Businesses in the robotics industry are performing research and development in everyday activities and most are not aware these operations could qualify for a dollar-for-dollar reduction of their income tax liability.
Companies in the pet industry conduct research and development in their everyday activities, not realizing these tasks can qualify them for R&D tax credits from the IRS.
Most companies in the marine industry do not realize that their day to day tasks may give them generous tax incentives.
The R&D tax credit is a perfect opportunity for businesses in the cosmetic industry to cash in on their daily efforts of staying competitive and current.
Daily activities performed by chemists, scientists and nutritionists in the gluten free food industry are eligible for the R&D tax credits offered by the federal government and by 40 separate states.