The Research & Development Tax Credit

WHAT QUALIFIES A BUSINESS?

•Developing an innovative product that is new to the market
•Engineering and designing a new product
•Research aimed at discovering new knowledge
•Searching for ways to apply new research findings
•Designing product alternatives, evaluating product alternatives
•Significant modifications to the concept or design of a product
•Designing, constructing, and testing pre-production prototypes and models
•Engineering activity to advance the product’s design
•Systems processing modeling, system and functional requirements analysis, integration analysis
•Experimenting with new technologies, new material and integrating the material to improve manufactured products
•Engineering to evaluate new or improved specification/modifications in terms of performance, reliability, quality, and durability
•Developing new production processes during prototyping and pre-production phases
•Research aimed to significantly cut a product’s time-to-market, aimed to obtain more efficient designs
•Developing and modifying research methods, formulations, products
•Paying outside consultants, contractors to do any of the above activities
•Developing processes, patents, formulas, techniques, prototypes, or software
•Improving or redesigning existing products
•Hiring scientists, designers or engineers that are engaged in qualified activities.
•Devoting time and resources to creating (manufacturing or developing) new or innovative products.
•Developing intellectual property
•Paying certain amounts for salaries, supplies, contract research and cloud hosting