AGRICULTURE

RESEARCH AND DEVELOPMENT TAX INCENTIVES FOR THE agriculture INDUSTRY

Many agriculture businesses are unaware that the government offers generous research and development (R&D) incentive programs, or they may believe that such programs do not apply to agricultural companies. Even those that are aware often fail to capture the full extent of R&D Tax Credits to which they are entitled. If you think you have to have a PhD and a laboratory to be conducting qualified activities as defined by the Internal Revenue Code, think again.

Has your operation produced new or improved agriculture related products recently? Have you modified product formulations and/or growing processes to increase yields, reduce the reliance on chemicals, accelerate weight gain, or other improvements to the efficiency of your operation? If the answer is yes, then there is a strong chance that your agricultural company could benefit from an R&D Tax Credit study. Let incentAdvise's agriculture experts help you claim the credits that you deserve.

Examples of activities and innovations eligible for R&D tax incentives include the following:

Hybridization or development of new strains of crops, plants, or livestock
Implementation of precision farming techniques in attempt to increase yield and/or production efficiency
Experimentation with new or different fertilizers (organic etc.)
Development/implementation of new ways to protect crops from disease
Development and implementation of new irrigation systems
Evaluation and implementation of new techniques to increase yields
Attempts to develop or implement new cultivation techniques
Development of new disease resistant crops or livestock
Development of new ways to prevent or control disease or insect pests
Improvements in harvesting techniques
Implementation of new equipment to improve harvest cycle times
Development or experimentation with new feeds or feeding techniques for livestock
Development and experimentation with new breeding techniques
Development of new gene transfer technologies
Efforts to optimize treatment and management of farm wastes in an energy efficient manner
Development and/or implementation of automated processes
Development of an innovative product or process
Design and implementation of biosecurity practices: facility cleaning and disinfection