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On January 1, 2016 North Carolina repealed their state R&D tax credit.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.
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Environmental Engineers perform many activities on a daily basis and may be unaware they can qualify for valuable research and development (R&D) tax credits.
Developing new Artificial Intelligence (A.I.) and robotic technology as well as improving on past technologies requires research and development. Companies can and should be utilizing R&D tax credits during their innovation process in the development of any new Robotics or A.I. products and technologies.
The Disaster Tax Relief and Airport and Airway Extension Act of 2017 Section 503 was signed on September 29, 2017 to give tax relief to victims of Hurricanes Harvey, Irma, and Maria. This law includes an employee retention tax credit to assist employers that continued to pay wages to any employees displaced by inoperable work locations.
Oil and gas equipment fabricators conducting research and development activities, may qualify for and benefit from R&D tax credits.
Consumer demands for fresher products made without artificial colors/flavors, preservatives, hydrogenated fats, or genetically modified ingredients (GMOs) have had a significant impact on the food science industry in recent years. These demands have made research and development a key factor in the productivity and growth of the food industry.
Tax Point Advisors, an R&D tax credit expert, clarifies the Treasury Notice 2017-23 and the Payroll Tax Credit
Biotechnology companies are continuously undertaking qualified research activities to solve the greatest challenges facing our society. Whether it’s finding a cure for cancer, protecting against bio-terror threats, or creating renewable energy sources, biotech and life science companies can take advantage of the R&D tax credits for their qualified research expenditures associated with these activities.