The R&D Tax Credit is a general business tax credit for companies that incur R&D expenses in the United States. With a dollar-for-dollar reduction in federal and state tax liability, the credit offers up to 10 cents in benefit for every qualifying dollar identified in a performed study. Any business in almost any industry can be eligible for the R&D Credit if it meets the Four-Part Capstan Criteria, and the results of this permanent, powerful credit can be quite significant.
New Or Improved Business Component
A Company in the architectural and structural metals manufacturing industry designs and fabricates various products for use in building applications. The Company undertook a project to develop a metal wall panel system for a newly constructed commercial building. The Company created the system utilizing aluminum composite panels to improve structural performance and corrosion
resistance. Additionally, the Company designed the panels to include an air and moisture barrier for increased functionality and reliability.
Elimination Of Uncertainty
The Company encountered uncertainty in panel design, as it was unclear which panels would best provide the high impact resistance required for increased structural support against elements and weight. Additionally, the Company faced uncertainty in the design of tooling and fixtures to properly form, hold, and test the panels during the fabrication process.