Research & Development Credit

Get Cash Back for your R&D Investment – Find Out if You Qualify

Our professionals at Ramsay & Associates can help you determine if you are eligible for federal & state research & development tax credits. Many business owners in nearly every industry are unaware that federal and state research and development (R&D) tax credit programs exist that may reward their day-to-day efforts aimed at producing an improved product. The R&D tax credit is a government-sponsored benefit that provides cash incentives for companies conducting R&D in the U.S. These economic incentives were implemented to stimulate research and development in industries of all sizes, to encourage companies to work together, and to transform the economic landscape. 

The R&D tax credit is for businesses of all sizes, not just major corporations with research labs, and many companies are surprised that they qualify. Any company that designs, develops, or improves products, processes, techniques, formulas, inventions, or software may be eligible. In fact, if a company has simply invested time, money, and resources toward the advancement and improvement of its products and processes, it may qualify.

Under current government regulations, even more industries now qualify for the R&D tax credit. Plus, the R&D tax credit regulations allow eligible taxpayers to “look back” to all open tax years (typically three years plus the current year) for potential R&D credits that were never claimed.

More than $5 billion in federal R&D tax credit benefits are given out annually, in addition to those offered by states. Our experts at Ramsay & Associates will assist you with the application and make sure that you maximize your potential benefits from this program.

 

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