Reward Innovation in Business With Profitable Tax Credits
The Research and Development Tax Credit provides significant earnings for businesses across the United States who undergo research activities to improve or develop their products, processes, or software.
The money earned back in the form of credits can be used to offset the costs spent performing the research and development. This cash incentive promotes innovation within businesses, and encourages them to take risks, be creative, and to become leaders in their industry.
Businesses across the United States are able to take advantage of the R&D Tax Credit. Each state allows businesses performing qualifying research activities to take advantage of the credit on a federal level, which provides a significant tax reduction to current and future tax liabilities.
Some states also allow the credits to be taken advantage of on a state level. State level credits provide similar benefits to the federal tax credits, with additional perks.
All 50 States Can Benefit from Significant Tax Credits from R&D Activities