Is your Ohio business developing new or improved products, processes, techniques, or formulas?
Good news is near, as you may be eligible for the Research & Development Tax Credit which is a tax savings incentive that can help your business offset income tax liability.
And beginning in tax year 2016, if your business is defined as an “eligible small businesses”, you can also utilize the credit to offset alternative minimum taxes and in some instances payroll taxes.
And, if your business is subject to the Ohio Corporate Activity Tax (CAT), there is also opportunity to utilize the Ohio Research & Development tax credit.
In the July 12th webinar hosted by PolymerOhio Manufacturing Services, R&D tax consulting specialty firm Tax Credits Group will provide attendees with an overview on the federal and Ohio Research and Development tax credits, and will work to address the following common questions:
- What activities qualify for the R&D Tax Credit?
- Is my business eligible to claim it?
- What amount of benefit can I expect to receive?
- How do I go about claiming the credit?