Does Your Business Quality for the R&D Tax Credit?
Many company leaders don't realize their operations qualify for the research and development tax credit. Launched in 1981, the R&D tax credit rewards businesses that discover, design, and further develop both new and existing technologies. The innovation tax credit offers business owners an opportunity to:
Earn up to 13.5 cents of federal and state R&D tax credits for every qualified dollar
Claim a dollar-for-dollar reduction in both federal and state income tax liability
Lower effective tax rate
Increase in earnings per share
Drive cash flow
The research and development tax credit also offers a carry forward credit of up to 20 years. Businesses can also perform look-back studies to identify unclaimed credits for open tax years.
The 4-Part Test
Download our easy-to-follow cheat sheet to help you identify preliminary qualifications, simplified calculations, and industry guidelines for your clients.
