State/Multi-State R&D

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State/Multi-State R&D

Most states offer research & development incentives for the creation and improvement of new products, processes and software initiated in their state.

This credit is significant, especially when added on top of federal R&D credits, averaging between 1% and 10% of qualified expenditures, adding significant cash savings to business operations.

Tax Credit Co. (TCC) is one of the largest independent providers of R&D tax credit services in the United States. We help companies of all sizes and industries to identify and secure federal and state research & development tax credits nationwide. Our clients include many industry leaders in manufacturing, energy, engineering, retail, transportation, information technology, healthcare, biotechnology, medical devices, automotive and aerospace.

We Think Differently About R&D Credits

At Tax Credit Co., our goal is to produce an audit-ready R&D tax credit study built on contemporaneous data and documentation that fully supports our client’s tax credit claim. At TCC, we avoid the time survey estimation approach disfavored by the IRS and state taxing authorities and work to utilize a project accounting methodology supported by our own proprietary technology. We believe that most companies have the data and records available to properly document the credits and avoid basing a claim on estimates. As well, we attempt to work collaboratively with state auditors whenever possible. Because of this, we have achieved an audit acceptance rate exceeding 97%.

Tax Credit Co.’s approach to securing R&D credits for clients reflects the following values:

  • Identify all opportunities possible by casting a wide net
  • Rely on data and documentation rather than subjective assessments of staff members
  • Shift burden of data collection, research, records gathering and calculations to us rather than the client’s overburdened internal resources
  • Solve high-value problems with innovative solutions
  • Make audit process simple and uneventful by providing auditors with data and documentation in an organized, clear format

Results

The resulting benefits for clients often include:

  • Smoother process with less strain on internal resources/li>
  • More accurate and complete calculations, documentation and work papers
  • Increased credit amounts due to the comprehensive approach and resolution of compliance challenges within the business
  • Higher certainty and less contentiousness in state audit

To learn more about how Tax Credit Co. approaches R&D tax credits, call us at 323-927-0750 or Contact Us