Research and Development Tax Incentives for the Agricultural Industries

Agriculture

Research and Development Tax Incentives for the Agricultural Industries

Many agricultural businesses are unaware that the government offers generous research and development (R&D) incentive programs, or they may believe that such programs do not apply to agricultural companies. Even those that are aware often fail to capture the full extent of R&D tax credits to which they are entitled. If you think you have to have a PhD and a laboratory to be conducting qualified activities as defined by the Internal Revenue Code, think again.

Has your operation produced new or improved agriculture related products recently? Have you modified product formulations and/or growing processes to increase yields, reduce the reliance on chemicals, accelerate weight gain, or other improvements to the efficiency of your operation? If the answer is yes, then there is a strong chance that your agricultural company could benefit from an R&D Tax Credit study. Let alliantgroup’s agriculture experts help you claim the credits that you deserve.

Examples of agriculture activities eligible for R&D tax incentives include the following:

  • Hybridization or development of new strains of crops, plants, or livestock
  • Implementation of precision farming techniques in attempt to increase yield and/or production efficiency
  • Experimentation with new or different fertilizers (organic etc.)
  • Development/implementation of new ways to protect crops from disease
  • Development and implementation of new irrigation systems
  • Evaluation and implementation of new techniques to increase yields
  • Attempts to develop or implement new cultivation techniques
  • Development of new disease resistant crops or livestock
  • Development of new ways to prevent or control disease or insect pests
  • Improvements in harvesting techniques
  • Implementation of new equipment to improve harvest cycle times
  • Development or experimentation with new feeds or feeding techniques for livestock
  • Development and experimentation with new breeding techniques
  • Development of new gene transfer technologies
  • Efforts to optimize treatment and management of farm wastes in an energy efficient manner
  • Development and/or implementation of automated processes
  • Development of an innovative product or process
  • Design and implementation of biosecurity practices: facility cleaning and disinfection

alliantgroup’s Agriculture Specialization Team

In order to better serve companies in the agriculture industry, alliantgroup has developed an Agriculture Industry Specialization Program that focuses on the qualification and quantification of R&D tax benefits for companies operating in the diverse areas that comprise agriculture. This group employs individuals with extensive experience in agriculture-related industries.