Many companies in the life sciences industries are not aware that the government offers generous research and development (R&D) incentive programs. Even those that are aware often fail to capture the full extent of R&D tax credits that they are entitled. For example, many companies may be capturing relevant expenses from their R&D cost centers, but not all qualifying R&D activities take place in traditional R&D departments. In many companies, prototyping, process development, and testing happen in the plant or on the shop floor, and thus may be overlooked for purposes of the R&D Tax Credit. If you think you have to have a PhD and a state-of-the-art laboratory to be conducting qualified activities as defined by the Internal Revenue Code, think again.
If your company operates in the pharmaceutical, biotechnical, agriculture, medical device, or biomedical industries, there is a strong chance that you could benefit from an R&D Tax Credit study. Let alliantgroup’s life science experts help you claim the credits you deserve.