MANUFACTURING
RESEARCH AND DEVELOPMENT TAX INCENTIVES FOR THE MANUFACTURING INDUSTRY
If your company is in the manufacturing industry and you’ve recently introduced new or improved products or manufacturing lines, there is a strong chance that you could benefit from an R&D Tax Credit study. Let incentAdvise manufacturing experts help you claim the credits that you deserve.
What Qualifies for the R&D Tax Credit in the Manufacturing Industry?
Types of Research Activities
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Designing and developing cost-effective and innovative operational processes
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Integrating new materials to improve product performance and manufacturing processes
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Determining tooling requirements and optimal placement of equipment
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Evaluating and determining the most efficient flow of material
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Designing and evaluating process alternatives
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Designing, constructing, and testing product prototypes
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Developing processes that would meet increasing regulatory requirements
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Reducing labor costs
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Performing alternative material testing
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Achieving compliance with changing emissions laws and regulations
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Streamlining manufacturing processes through automation
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Increasing manufacturing capabilities and production capacities
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Developing and implementing new or improved safety enhancements
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Developing new applications
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Improving product quality
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Implementing new production standards and quality assurance processes
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Improving yields
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Reducing manufacturing times
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Optimizing manufacturing processes
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Increasing operating and economic efficiencies
Qualified Research Expenditures
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Wages.
W-2 wages paid to an employee for "qualified services" performed by the employee. Only wages subject to withholding.
Outside Contractors.
Work performed by non-employee / independent contractors. Only 65% of expenses may be eligible.
Supplies.
A taxpayer may claim the research credit for amounts it paid or incurred for supplies used in the conduct of qualified research.
Qualified Research Expenditures
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Utilizing the additional funds obtained through their R&D Tax Credit claim, our construction client was able to invest in equipment capable of detecting underground utility lines and other risk mitigation before initiating projects, expanding their company offering.
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GROSS RECEIPTS: $14,475,775
GROSS PAYROLL: $8,986,474
TOTAL R&D CREDIT: $403,662
Examples of activities and innovations eligible for R&D tax incentives include the following:​
-
Designing and developing cost-effective and innovative operational processes
-
Integrating new materials to improve product performance and manufacturing processes
-
Determining tooling requirements and optimal placement of equipment
-
Evaluating and determining the most efficient flow of material
-
Designing and evaluating process alternatives
-
Designing, constructing, and testing product prototypes
-
Developing processes that would meet increasing regulatory requirements
-
Reducing labor costs
-
Performing alternative material testing
-
Achieving compliance with changing emissions laws and regulations
-
Streamlining manufacturing processes through automation • Increasing manufacturing capabilities and production capacities
-
Developing and implementing new or improved safety enhancements
-
Developing new applications
-
Improving product quality
-
Implementing new production standards and quality assurance processes
-
Improving yields
-
Reducing manufacturing times
-
Optimizing manufacturing processes
-
Increasing operating and economic efficiencies
additional manufacturing industries:
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aerospace
automotive
chemical
electronics
firearms & ammunition
foundries
furniture & cabinets
life sciences
MEDICAL
DEVICES
MOBILE DEVICES
OIL &
GAS
PACKAGE DESIGN
SHIP
BUILDING
TELECOM-MUNICATIONS
incentAdvise MANUFACTURING Specialization Team-
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In order to better serve the manufacturing Industry and contracting companies, incentAdvise has developed an Industry Specialization Program that focuses on the qualification and quantification of R&D tax benefits for companies operating in the manufacturing industry.
IncentAdvise Engineering and Manufacturing Group employs individuals who have educational backgrounds and practical experience within the disciplines of civil engineering, environmental engineering, mechanical engineering, electrical engineering. incentAdvise has qualified and quantified credits for firms ranging from small, startup firms to large, multi-national corporations.
