The corporate tax deadline is five days away, and if you don’t know about the U.S. Research & Experimentation (R&D) Tax Credit program, you could be leaving $250,000 left on the table.
Each year the federal government provides billions of dollars to innovative businesses, including technology companies and startups, for developing new or improving existing technologies, products, materials and processes through the R&D Tax Credit. It’s classified as a general business tax credit under Internal Revenue Code section 41.
Ever wonder why Amazon pays very little, if anything, in federal corporate taxes? This is part of the reason why.
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