R&D tax credits are incentives provided by our government to encourage U.S. companies to maintain their competitive advantages through continued innovation and improvements. In general, a qualifying company is eligible to deduct from its corporate income taxes an amount equal to 20 percent of qualified research expenses above a base amount. Qualified research expenses can include employee wages, supplies, and contract research expenditures. The incentives are centered on the development of new or improved products and processes of a fundamentally technological nature. Click on the links below to learn more about how the credit applies to certain industries:
