What Qualifies Businesses
for the R&D Tax Credit?
Many businesses are still unaware they qualify for this credit. A wide range of industries, such as software development, manufacturing, engineering, crop and animal production, food processing, construction, and more, qualify for the R&D Credit.
Eligibility for the R&D Credit extends beyond product development to include activities such as the latest manufacturing methods, software development, and quality improvements.
So, if your company does any of the following, your business likely qualifies for this credit:
- Develops or design new products or processes;
- Enhances existing products or processes; or
- Improves upon existing prototypes and software.