Facts and Benefits of R&D Tax Credits
The Research and Development Tax Credit or the R&D Tax Credit was made by congress in the year 1981 as a part of the Economic Recovery Tax Act that helps companies in staying competitive in the international market. This kind of credit was made permanent officially in January 1, 2016. However, there are only few small to mid-sized companies that are taking its full advantage because of the misrepresentation of it on credit laws and also because of the lack of information.
What you will learn in this article are some reasons as to why getting an R&D Tax Credit is found to be beneficial:
Helps Increase the Bottom Line
This kind of tax credit can actually help reduce the state tax and federal liabilities of a company. Any company which is involved in the R&D can in fact get about 10 – …