Construction
Many construction contractors do not realize their activities may qualify for lucrative federal and state research and & development (R&D) tax credits. In fact, many of the activities conducted by contractors and subcontractors – particularly those working in the construction industry – do indeed qualify, and the benefit can mean tens of thousands of dollars in tax savings.
- Electrical Contracting
- General Contracting
- Mechanical Contracting
Engineering
As engineering firms develop new products and design new concepts, there’s a good chance that their activities may qualify for federal and/or state R&D tax credits to offset the significant cost of development.
- Civil Engineering
- Electrical Engineering
- Environmental Engineering
- Mechanical Engineering
- Product Engineering
- Structural Engineering
Manufacturing
Manufacturers may qualify for significant tax savings through qualifying research and development (R&D) tax credit activities. Federal and state R&D credits can mean a significant reduction in tax liabilities, enabling manufacturing companies to reinvest in their business with the considerable savings.
- Aerospace
- Apparel and Textiles
- Automotive
- Building Systems Controls
- Chemical
- Electronics
- Feed Mills
- Firearms & Ammunition
- Food & Consumer Packaged Goods
- Foundries
- Furniture & Cabinet Manufacturing
- Job Shops
- Life Sciences
- Medical Equipment Manufacturer
- Metals
- Oil & Gas
- Plastic Injection Molding
- Semiconductor-Electronics
- Shipbuilding / Marine
- Telecommunications
- Tool & Die
Software & Technology
While many activities undertaken by software developers indeed qualify for federal and state R&D credits, they are often not claimed due to misconceptions about qualification and complexity. More recent taxpayer-favorable IRS rules boost opportunities for software developers to claim R&D tax credits for internal use software (IUS) software.
Other
While more than 14,000 U.S. companies claim federal R&D credits annually, less than 33% of companies that qualify for the credits actually apply for them.
- Aerospace
- Agriculture
- Apparel
- Architects
- Automotive
- Biotech/Life Sciences
- Brewery
- Coating and Adhesives
- Chemical
- Commercial Bakeries
- Distribution
- Electronics
- Energy
- Fabricators
- Flavor and Fragrance
- Food Processors
- Food Products
- Furniture Makers
- HVAC
- Insurance
- Jewelry Design
- Job Shops
- Life Sciences
- Medical Devices
- Microwave System
- Oil and Gas Refineries
- Package Design
- Pharmaceuticals
- Plastic Injection Molding
- Research and Development Facilities
- Telecommunications
- Tool and Die
- Transportation
- Waste Management
- Wineries
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