Since its USA inception in 2017, Leyton has helped hundreds of companies improve their business performance by utilizing one of the government’s biggest innovation incentives: Research & Development (R&D) Tax Credits. After achieving tremendous success in Boston’s exceedingly competitive market, Leyton USA now announces expansion to the number one global innovation hub: Silicon Valley!
“With our California expansion, we aim to further strengthen our mission to optimize our clients’ true potential for innovation by offering maximum ROI in the form of R&D Tax Credits. We look forward to helping companies, particularly start-ups, identify strategies to generate tax benefits, while providing the highest quality of service. In California, we will serve various industries including high-tech, software, manufacturing, construction, food & beverage, agriculture & many more!” Says Craig Hale, Senior VP at Leyton USA.
California has the largest, most diverse economy in the US, contributing to its massive GDP. Thousands of technology companies like Facebook, Apple, Netflix & Tesla are headquartered in Silicon Valley. In addition to these fortune 500 companies, there are nearly 4 million small businesses in California. It is also home to some of the highest-funded technology startups in the US, including Uber, Lyft, Zoom & many more.
The state provides a great funding ground for startups by offering significant tax benefits. Companies that conduct research and development are eligible to claim federal as well as state R&D credit, which can be a huge benefit for early stage companies. The California R&D credit is a dollar for dollar reduction of state tax liability. This credit is equal to 15% of the qualified R&D spend for the taxable year, or 24% of any research expenses for university-based research. While the federal credit is limited to a 20 year carryforward, the California state credit can be carried forward indefinitely, presenting an appealing advantage for companies to invest in R&D.
With over 20 years of experience, Leyton proudly retains the largest technical team dedicated to R&D tax credits globally. Leyton USA has successfully proven expertise in R&D Tax Credits in the East Coast, and is fully prepared to help businesses take advantage of federal and state innovation funding strategies in California. Leyton’s in-house team of highly experienced scientists, engineers, tax consultants, and attorneys provide tailor-made solutions to clients, so they can achieve maximum eligible financial returns.