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What is the
R & D Tax Credit?
The R&D tax credit is a federal and state tax incentive available to businesses that invest time and money into developing or improving products, processes, software, techniques, formulas, or inventions. Many businesses qualify even if they do not have a traditional laboratory or research department.
Software & Technology
construction & contractors
engineering & architecture
manufacturing
breweries & wineries
food &
beverage
agriculture
plumbing, hvac, electrical
real estate development
product design
& prototyping
INDUSTRIES THAT MAY QUALIFY
New Product or Process Development
Existing Product or Process Improvements
Materials, Formula & Prototype Testing
Software Development
Engineering, Design & Fabrication
Technical Problem-Solving & Testing
Production Method Development
Performance & Efficiency Improvements
New Formulation Development & Testing
New Technique & Process Testing
ACTIVITIES THAT MAY QUALIFY
COULD YOUR
BUSINESS QUALIFY?
The IRS generally uses a four-part test to determine whether research activities may qualify for the R&D Tax Credit. Review the questions below to see whether your business activities may meet the requirements.
PERMITTED PURPOSE | The work was intended to improve function, performance, reliability, quality, or design.
TECHNOLOGICAL IN NATURE | The work relied on engineering, computer science, biology, chemistry, physics, or similar sciences.
ELIMINATION OF UNCERTAINTY | The business faced technical uncertainty about capability, method, or design.
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