R&D Tax Credit for Agricultural Business
Agribusiness companies often do not realize that they are eligible for the Research & Development Tax Credit. The R&D Tax Credit allows companies to realize tax savings, increase cash flow and stay competitive in the marketplace. Many qualifying activities are considered day-to-day operations in the agricultural industry.
The benefits can be significant and are efficient to realize through our services. The R&D Tax Credit can provide a hidden but immediate source of cash from prior years, plus a significant reduction to current and future years’ federal and state tax liabilities.
Typical Qualifying R&D Tax Credit Activities:
- Improving harvesting methods
- Developing or improving automated processes
- Developing new strains of crops or plants
- Developing new irrigation systems
- Developing or improving new feeding methods for livestock
- Experimenting with new crop or livestock breeding techniques
- Developing new gene transfer techniques
- Developing innovative products or processes
- Developing new techniques to increase yields
- Improving waste treatment and management solutions
- Developing ways to protect crops or livestock from disease
- Developing new cultivation techniques
Our Research Tax Credit practice consists of engineers, CPAs, and attorneys who have extensive experience conducting R&D Tax Credit Studies at both the federal and state level. Our process begins with a free assessment to ensure that the company qualifies for the credit and would be able to utilize them. Each of our studies includes a site visit to help facilitate the study process. We also include audit support with all of our studies. This is a conservative federal and state incentive that was just made permanent by Congress as part of the 2015 PATH Act. Contact ETS for more information at 800-236-6519 or email here.