Research and Development Tax Credit - Tampa Business Consulting

This tax credit is amazing! It was made in 1981 as an incentive for companies to keep their business, staff, and products made and used in the USA. It has been modified and changed hundreds of times over the years but is still an amazing tax credit an dis so much better in many ways. It rewards the business for innovation and research to stay cutting edge, improve qualify of living, make products more affordable and so much more. It is a permanent tax credit that is renewed every year and gives you cash for your business to continue keeping it new, fresh, and state of the art.

Who Qualifies for the Tax Credit?

So many businesses that qualify for it never ever knew it existed. We got a single client over $1 million in 2023 and they will get that every year as long as they qualify!

Qualifying Activities

Businesses that develop a new or improved existing product, process, system, formula, invention, software or technique.*
Businesses that solve technical or social problems*
Businesses that Evaluate alternative methods or items (such as alternative fuel etc.)*
Business that research solutions to everyday problems*

*all Businesses must be located, operate in and employee staff within the USA to qualify.

Qualifying Businesses/Industries

Here is a list of regularly awarded types of business or industries that regularly qualify. This list is of course not all inclusive so many others can qualify too!

Architecture businesses
Agricultural operations (may include legal Canabis)
Engineering firms
Manufacturing businesses
Software Companies/Engineers
Construction firms (no necessarily Contractors )- Especially if they do research & Design
Medical businesses- Especially those in prosthetics, rehab and new technology for health
Businesses that design or build things for government contracts such as roads, buildings etc.

*all Businesses must be located, operate in and employee staff within the USA to qualify.

Here is a list of regularly awarded types of business or industries that qualify. This list is of course not all inclusive and so many others can qualify too!