The manufacturing and distribution sector has long been a powerhouse of American innovation, and the R&D tax credit, established in 1981, has played a vital role in this success story. This valuable incentive program benefits a wide spectrum of manufacturers across the country, from those producing everyday consumer good sand food items to companies crafting intricate medical devices, cutting-edge electronics, and life-saving pharmaceuticals.
By incentivizing continuous research and development, the R&D tax credit empowers manufacturers and distributors to:
- Fuel innovation and technological advancements
- Maintain a competitive edge in the global marketplace
- Create high-skilled jobs and contribute to economic growth
As the manufacturing and distribution landscape continues to evolve, the R&D tax credit remains a vital tool for ensuring continued innovation and prosperity in America.
R&D Tax Credit Qualification for Manufacturing & Distribution
The firm’s multi-stage development process involved several qualifying R&D activities. These activities included brainstorming sessions to establish feasibility, the detailed design and engineering phase, prototyping, and iterative testing. Their work involved resolving uncertainties related to form, fit, material, and performance, all critical steps for successful manufacturing.
R&D Tax Credits with GOAT.tax
With our consultative approach to the research and development tax credit, we invest time understanding each client’s history, current business direction, and future growth objectives. Each year we re-evaluate a company’s ability to accept the tax credit and provide on-going recommendations to improve the R&D tax credits process.