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In The News

FTB Publishes FAQ Regarding The Caliornia Competes Tax Credits and the Winding Down of the EZ Program

Vouchering Expected to Continue Through 2014

Email: info@canditax.com
Ph: 310-402-2780
 
 

RESEARCH AND DEVELOPMENT CREDIT

Have you spent time and money researching and developing your product? If so, you are entitled to a state and Federal credit for investing in your company. The state and Federal governments are incentivizing American companies to invest in R&D by providing a credit of up to 15% at the state level and 20% at the Federal level.

Qualified research is defined as research that has:

  • A permitted purpose, i.e. a new or improved process, function, product, quality, performance or reliability.
  • Eliminating uncertainty; were the R&D activities intended to eliminate uncertainty concerning the development or improvement of the product.
  • Technical in nature, i.e. it must have used the physical sciences such as math, engineering, physical science, et.; and
  • Process of Experimentation; did the R&D involve trial and error or repeated testing to remove alternatives.

While at first, these may seem complicated, the truth is that many companies perform qualified R&D, but haven’t taken advantage of the credits. Find out if you are entitled to credits for the investing and developing that you are likely already conducting in your business.

 
 
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