Tax Credits - R&D

Interested in taking advantage of R&D tax credits but not sure what qualifies as research and development?

The following are some of the activities that may qualify:

  • Manufacturing products
  • Developing new products, processes, formulas, software, techniques, etc.
  • Improving on existing products, processes, formulas, software, techniques, etc.
  • Creating more reliable products, processes, formulas, software techniques, etc.
  • Developing prototypes or models including computer generated
  • Designing of tolls, jigs, dies, molds
  • Applying for patents
  • Testing new concepts
  • Certifying quality
  • Sourcing raw material
  • Developing new technologies
  • Improving existing or building new facilities
  • Attempting the use of new materials, concepts, processes
  • Developing custom software for internal uses
  • Developing or designing new systems utilizing existing products
  • Creating new formulas or products to enter new markets or industries

Common industries that qualify for research and development tax credits:

  • Manufacturing
  • Plastic and Injection Molding
  • Aerospace and Defense
  • Food Processing
  • Contract Manufacturing
  • Distribution (Systems)
  • Financial Institutions (Systems)
  • Medical Device Manufacturers
  • Software Development (for sale)
  • Agriculture, Dairy Farmers and Wineries

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