Manufacturing Incentives Overview (R&D Tax Credit Study)
Our Manufacturing Incentives service is one of three flagship services making up our Specialized Incentives.
We utilize a team of highly qualified professionals including IP attorneys with engineering backgrounds and adhere to the Comprehensive Project by Project Approach methodology as required by the IRS. By following this methodology, we qualify every applicable employee, activity, hour spent and corresponding wage paid in order to maximize the incentive for our client. We strictly adhere to the applicable sections of the code and provide first-in-class documentation to substantiate our findings.
The Manufacturing Incentives benefit is a Federal program designed for companies that perform manufacturing in the U.S. This program is listed under Section 41 of the IRC (Internal Revenue Code) and continues to be amended on an annual basis as the U.S. manufacturing landscape continues to evolve. This is an engineered based program that focuses on a company’s operations and processes in order to determine their qualification for incentives. The Manufacturing Incentives benefit provides an avenue to receive ‘tax money’ back from prior years while also reducing current taxable income on a dollar-for-dollar basis.
Manufacturing, Engineering, Software, Chemical & Pharmaceutical companies
Increased benefits are available for companies that are involved in:
Developing and improving quality and cost efficient solutions and processes
Quality assurance and testing
Engineering and design
Prototyping or modeling
Process improvement resulting in better productivity and turn around cycle
Specialized assembly processes using technology
Developing tooling applications and solutions
Product development and improvement
A U.S. firm that:
Has $1.5M in annual payroll
AND, has paid Federal taxes within the last 3 years, or plan to in the current year
Collect signed service agreement and documents
Schedule Discovery Call using the GMG portal and upload all documents