R&D Tax Credit

The Research and Development Tax Credit (R&D Tax Credit) was first enacted in 1981 by the Reagan Administration to provide incentives to develop innovative products and processes new to the world. The credit was extended several times and then changed in 2001, when the discovery requirements were eliminated. This revision meant that companies no longer needed to develop products or processes new to the world, but simply new to their own company.

The R&D Tax Credit now significantly impacts the following industries:

• Engineering
• Manufacturing
• Machine Shops
• Food Sciences/Manufacturers
• Software Developers
• Tool and Die
• Pharmaceutical
• Chemical
• Fabrication

To be effective in substantiating the R&D Tax Credits, extensive knowledge and experience with the tax code is required. Since the tax law changes of 2001, Axiom Solutions has developed into one of the nation's leading Tax Credit Service firms using a unique combination of business processes, engineering expertise, and tax accounting knowledge. To date, we have provided R&D Tax Credit Studies for hundreds of clients and have recovered hundreds of millions of dollars in Tax Credits. Tax credits can be a viable contributor to your profitability. Lowering your tax exposure improves your cash position and provides additional resources for growth.

For more information or to receive a complimentary analysis of your company’s R&D Tax Credit qualifications, please contact us.