February 2021
Manufacturing companies of all sizes can access several tax credits for activities related to encourage innovation and job growth. The purpose of these credits is to spur advancements in technology, new products, new processes and inventions that keep the U.S. at the vanguard of innovation. They can enable businesses to make capital investments, hire new employees, grow existing operations, invest in new service lines and products, all while substantially reducing their tax liability.
Many manufacturing businesses assume they do not qualify for these tax credits; however, many normal business activities are applicable. If your business activities are eligible, your tax advisor can help you explore the following tax credit opportunities.
View the full article here.
