Eligible industries include:
- Aerospace and Defense
- Agriculture and Farming
- Boat Manufacturing
- Chemical Manufacturing
- Computer and Electronic Product Manufacturing
- Custom Manufacturing
- Dental Laboratories
- Design-Build Contracting
- Electrical Equipment and Component Manufacturing
- Energy and Utilities
- Food and Beverage
- High Tech
- Medical Device Manufacturing
- Metal Casting and Fabrication
- Oil and Gas
- Pharmaceutical and Biotech
- Plastics and Rubber Manufacturing
- Software Development
- Tool and Die
- Transportation Equipment Manufacturing
R&D Tax Credit
Do you qualify for the R&D Tax Credit? There are four basic requirements:
- Qualified research activities include the development or improvement to a business component which may be a product, process, technique, formula, invention or software.
- Research must involve the physical or biological sciences, engineering or computer science. You may use existing technologies or existing principles to satisfy this requirement.
- The goal of the research must be to eliminate uncertainty (capability, method or design) related to the development or improvement of the business component.
- The elimination of this uncertainty must be achieved through the process of experimentation, such as systematic trial and error, modeling, or simulation.