R&D Tax Credit for the Life Sciences
Life science 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 life science 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 the shelf-life of a product
- Developing new drug delivery systems
- Clinical testing
- Re-purposing existing drugs
- Developing new drugs and drug compounds
- Implement automation processes
- Developing new or improved feeds
- Developing new assays validation tests
- Developing substances, mixtures, and/or devices for testing
- Develop or improve processes, techniques, formulas
- Generating prototypes and new products
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.