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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 applied against its 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 types 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
- The Federal R&D tax credit was made permanent effective for 2016 tax returns, breaking its historical temporary status. This amendment allows companies to factor in Federal and State R&D tax reductions into their financial planning. Furthermore, new offsets against payroll tax allow even more companies to receive a benefit for their research activities.
- A common misconception is that R&D tax credits are limited to large companies with established R&D departments. In reality, any company that develops new or improved products, processes, or software are likely to qualify under the U.S. tax code.
- Unlike most CPA firms, Leyton are not just experts in the world of tax, the reality is we are technical experts above all else.
- Our technical consultants are required to have worked or studied in their area of expertise ensuring they not only are aware of the challenges our clients face, but have faced them themselves.
- Once you combine this industry experience with unparalleled knowledge of the R&D tax credit scheme, it leads to much larger tax savings and a quicker, much smoother process for the client.
Why do firms choose Leyton? It's our added value
- Market leading R&D tax credit specialist with 19 offices worldwide.
- Largest in-house technical team dedicated to R&D tax globally.
- Expertise of the consultants compiling your claim. Leyton require our consultants to have worked in the industry you operate in.
- Established and unique optimization process alongside our financial and technical knowledge.
- Global reach - we call on our international network of teams to ensure optimal support and to offer savings beyond national borders.
- No risk engagement - we offer an exclusive success fee structure on the results achieved.