Did you know the federal R&D tax credit could benefit your startup business? As a startup owner, you can apply to offset up to $500,000 in payroll tax liability with the research credit.Estimate Your Tax Credit Today
The R&D tax credit, also known as the Research & Development tax credit, is a federal tax credit designed for qualified businesses to offset their payroll tax - this includes startups. If you have a startup company that performs research and/or technology development activities, you can apply for up to $500,000 of research credit against income tax liability on your income tax return.
A software firm was able to claim federal and state tax credits of more than $101,000 on its $2.7 million in yearly revenue.
Total federal and state tax credits
Generated in state credits
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