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FEDERAL & STATE R&D TAX CREDITS


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FEDERAL & STATE R&D TAX CREDITS

R&D Tax Credits allow companies to reduce their corporate tax bill based on a proportion of their R&D expenditure. Up to 9.1% of a company’s annual eligible costs can be claimed against the federal and state income tax liability. Alongside this, a significant number of States have their own R&D tax credit programs, some of which are also permanent and refundable. Many of these closely resemble the federal rules governing what type of activities are eligible.

If your company does not currently have a tax liability but its activities qualify, R&D tax credits can be carried forward to offset tax on future taxable income. Credits that can’t be used immediately will carry forward for up to 20 years.

FEDERAL & STATE R&D TAX CREDITS
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