It’s no secret that policymakers in Washington are highly supportive of domestic manufacturing. However, according to Dean Zerbe, former Senior Counsel to the U.S. Senate Finance Committee and alliantgroup National Managing Director, manufacturers have widely been overlooking the biggest tax break intended to help their industry—the Research and Development (R&D) Tax Credit.
In his article appearing in the Q2 edition of Area Development magazine, “The R&D Tax Credit – A Game-Changer for Manufacturers,” Zerbe reviews the benefits and the application of the R&D Tax Credit with respect to the manufacturing sector and explores why so many eligible manufacturers have failed to claim the credit in the past. Providing numerous examples of real-world manufacturers that qualified for significant tax savings, Zerbe lays out the specific kinds of activities that can lead to eligibility and how legislation passed as recently as this past December has greatly expanded the number of manufacturers (and U.S. businesses as a whole) eligible for the R&D Tax Credit.
Contact us today for more information on the R&D Tax Credit and how these legislative changes could positively impact your manufacturing business.