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Innovative Kentucky businesses can take advantage of a federal and state research and development (R&D) tax credit. These credits directly reduce a business’ tax burden. The horses of the Kentucky Derby aren’t the only things racing forward in the Bluegrass State. Inspired Kentucky companies are speeding through new product developments every day. Just like racehorses,…
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Business owners can use the federal R&D tax credit to reduce their tax burden and keep money in their pockets. Creative companies that don’t apply for a federal R&D tax credit are losing money. An R&D tax credit is a reward bestowed by the federal government to companies that engage in R&D activities. Since these…
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Start-ups developing new products in Oklahoma can utilize a federal research and development (R&D) tax credit. A federal R&D tax credit can reduce payroll or income tax expenses. The Sooners state is home to the scissor-tailed flycatcher and the Oklahoma rose, but not to a state R&D tax credit program. Unlike many other states, R&D…
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A federal research and development (R&D) tax credit rewards innovative veterinarian pharmaceutical companies. The credit can reduce a company’s overall tax burden. Developing animal drugs, also known as veterinarian pharmaceuticals, serves a vital purpose in today’s world. Not only do these products keep livestock healthy, but our four-legged friends at home can experience a higher…
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Some businesses can qualify for a small business innovation research (SBIR) grant as well as a research and development (R&D) tax credit. There are strict criteria a business must meet to receive both. Most business owners assume that receiving a grant for R&D funding automatically cuts them off from a federal or state R&D tax…
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Alabama doesn’t offer a state research and development (R&D) tax credit program, but qualifying Alabama companies can apply for a federal R&D tax credit. R&D credits serve as great rewards for innovative companies, and more than 25 states offer some kind of R&D tax credit program. State tax credit programs can be used in addition…
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Contractors can grow their businesses by helping clients access R&D (research and development) tax credits. Businesses in nearly every industry will rely on contractors at one time or another. Pharmaceutical and cosmetic companies often employ external labs to assist in product development. If your lab is often contracted, you can use R&D credits to stand…
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Federal and state research and development (R&D) tax credits are available to qualifying climatech companies. Electric cars, solar panels, and carbon-reducing products are great contributions of the climate tech industry. Unfortunately, creating products and systems that reduce pollution and improve planetary health can be costly. The financial burden of such inventions can overwhelm a start-up…
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There is no Alaska R&D state tax credit program. Qualifying Alaskan businesses can participate in the federal R&D tax credit program in order to reduce taxes. Nearly every state has a research and development (R&D) tax credit program that incentivizes businesses to invest in R&D. Alaska R&D tax credits, unfortunately, are harder to come by.…
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Nevada doesn’t have a research and development (R&D) tax credit program. Innovative businesses could receive an R&D credit the federal government. Research and development (R&D) tax credit programs have long incentivized businesses to continue investing in R&D. Nevada doesn’t offer a state R&D credit program, but luckily, one of the R&D tax credit options for…