Research Tax Credits

The federal credit for increasing research and experimentation costs applies to companies in a variety of industries. In general R&E costs must be incurred to develop a process or product, and the process must involve some risk of failure. The costs of developing aesthetic design elements of a new product, for example, does not qualify. States also provide credits for research activities, typically based on terms that “piggyback” the federal credit. Outlaw Consulting can assist with the documentation of related costs to claim the federal tax credit, and with the calculations to claim the various state research credits.