For Pennsylvania businesses in multiple industries looking to reduce income or franchise tax liability.
Contact UsR&D tax credits, also known as the Research and Development credit, enable businesses to potentially receive up to a 10% tax credit (20% for qualified small businesses) on qualified research expenditures that have been incurred within the state of Pennsylvania. Taxpayers might qualify for the credit if they paid for (or incurred) Qualified Research Expenses.
Qualified Research Activities can include the below. All qualified activities must take place in the state of PA.
Find out if you qualify for the PA research credit.
Contact UsProperly claiming the R&D tax credit can be difficult without the right expertise - That’s where GOAT.tax comes in. Our R&D tax credit software identifies any qualified research expenses your company paid and qualified research activities to ensure you receive the largest refund possible.
These qualified expenses typically include employee compensation, contracted services, and materials. Typical forms needed for proof often include payroll records, detailed financial records, and vendor invoices.
All companies in Pennsylvania (regardless of industry, size, or revenue) that perform these qualified research activities must satisfy the following criteria of the IRS Four-Part Test as outlined in IRC §41(d):
The PA research credit can be carried forward 15 years.
PA Form REV-545 can be used to calculate the R&D credit. Application must be submitted on the Research and Development (R&D) Tax Credit online application system by December 1.