DAIRY
RESEARCH AND DEVELOPMENT TAX INCENTIVES FOR THE DAIRY INDUSTRY
Many agricultural businesses, such as dairy farms, 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.
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Has your operation produced new or improved products recently? Have you modified product formulations and/or production processes or made 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:
Dairy Production:
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Optimizing productivity and utilization of dairy pastures
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Developing / Integration of new or improved dairy production systems
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Developing technologies to measure body composition in livestock
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Developing ways to increase milk production
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Developing new gene transfer technologies
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Eliminating / controlling dairy cattle disease
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Conducting horticultural R&D activities
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Evaluating/Integrating of accelerated growth formulas
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Avoiding antibiotic residues in milk
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Making efforts to control molds and mycotoxins
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Attempting to improve milking procedures to increase milking efficiency
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Evaluating and implementing of odor control treatment methods
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Dairy Product Processing:
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Developing an innovative product that is new to the market
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Developing new processing techniques or facilities
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Experimenting with aging techniques
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Experimenting with preservatives to increase shelf life of various dairy products
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Developing or experimenting with new feeds or feeding techniques for dairy cattle
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Developing and experimenting with new breeding techniques
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Developing automated processes
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Developing specialty products such as reduced fat, low-carbohydrate, or protein-enhanced dairy products
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Developing products with lengthened shelf lives
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Developing or modifying pasteurization processes
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Developing new or improved methods to minimize bacteria and other contaminants
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Developing or modifying bottling processes
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Shepherding products or processes through regulatory or industry approval processes (e.g., FDA, USDA, ISO-9000)