The South Carolina research and development (R&D) tax credit is an incentive for businesses. You can use it to offset tax liabilities. It is available for businesses that perform specific research activities. Born in 1981, the R&D tax credit allows up to 13% of the credit for eligible expenses. Individuals, limited liability companies, sole proprietors, partnerships, S corporations,...Read More
Pennsylvania is a state that has been investing in its economy because the industries here are some of America’s most innovative. Businesses count on PA R&D tax credit to improve their products and processes. This credit program contributes positively towards the global market through increased innovation.
The economy of this state is a modern, technological-driven one. With an...Read More
Manufacturing has always been an industry that’s driven innovations. And now, it can be even better thanks to research and development (R&D) tax credits. There are a lot of ways you can qualify for the R&D tax credit. You can benefit from manufacturing tax credits even if your company isn’t developing new products or processes.
If your company wants to develop or...Read More
As a business owner, you may wonder how to calculate the R&D tax credit. There are two calculation methods allowed for the federal Research & Development tax credit:
Regular Research Credit Method (RRC)Alternative Simplified Credit (ASC)
Depending on the situation, businesses can choose either of them to compute their research credit numbers. They can use that amount to offset...Read More
Businesses around the US have suffered a lot because of the COVID-19 pandemic. Some successfully managed this transition by working remotely. However, the businesses offering in-person services suffered the most, such as dental practices. Even today, dentists have not been able to operate with their full capacity because of the current regulations. Considering such a hard time for dentists,...Read More
The Research and Development (R&D) Tax Credit is one of the best opportunities for companies to considerably slice down their tax liabilities and save thousands of dollars. Research & Development Tax Credit (26 U.S. Code §41) is a federal benefit that provides qualified businesses from a wide range of industries with tax savings. Qualified companies can use this valuable...Read More
The Florida state allows a qualified business to claim a state R&D credit of 10% for “Qualified Research Expenses” (QREs) incurred in Florida. The R&D tax credit for Florida is an annual tax, beginning on or after 1st January 2012. It is applicable based on qualified research expenses in Florida permissible under the internal revenue code.
We all know how crucial every saved dollar...Read More
In this article, we discuss the top three R&D tax credit case studies that represent qualified businesses for research credits. In addition, we help you learn about their research activities, respective potential R&D job titles, and more.
The R&D tax credit is available for companies that are into developing/improving new/existing processes, products, services, or formulas....Read More
The government of the United States provides billions of dollars to encourage businesses to develop new technologies, processes, products, services, and materials through the research and development tax credit program. The program varies with each state, and today, we will discuss the California R&D tax credit program.
Each year, qualified businesses use the R&D tax credit to...Read More
Starting a business is certainly a stress-including venture. With relatively higher rates of failure, small businesses often face high uncertainty. In such circumstances, missing out on opportunities can cost a lot.
Every successful small business or startup takes advantage of all the opportunities they get to be more competitive and efficient. And, the best example of such an opportunity...Read More