This small Louisiana-based firm specializes in architecture and interior design for residential, institutional, municipal and commercial properties. They strive to integrate effective and environmentally sound solutions into their clients’ projects, and to educate them on the impact that design can have upon the environment by advocating green building and sustainable design.
Specific Qualifying Activity:
This company’s Qualified Research Activities centered around the development of specific design concepts related to fostering functionality in terms of the incorporation of new technologies, utilization of space, occupants’ health and well being, building security, the preservation of historical artifacts, accessibility and sustainability. They also have a significant focus on “green” design, technologies and materials.
Although this young company was eligible to claim federal credits, they would only have been eligible for credits on a carry forward basis (as opposed to a cash refund), because they did not yet have any tax liability. However, Louisiana has a refundable state credit in excess of liability, and they were able to access the full state credit as cash that they were then able to use to grow the business.
Ultimate Benefit to Company:
This small company was able to receive a low six-figure refundable state credit for a one-year study, and Tax Point Advisors was able to find approximately 34% of additional credits above the original estimate. Because Tax Point Advisors (unlike many of their competitors) charges a fixed-fee, this increase in credit return posed no additional cost to the client.