The Manufacturing Incentives (R&D Tax Credit) benefit is a federal program designed for your clients that perform manufacturing in the U.S. This program is listed under Section 41 of the IRC (Internal Revenue Code)  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. Targeted industries include Manufacturing, Engineering, Software, and Chemical & Pharmaceutical companies.

The National R&D Tax Credit average is over $25,000 per $1,000,000 in total company payroll. This can help your clients to appreciate your value and free up valuable funds for other products or services you may want to sell them. Minimum requirements include that the business has at least $1.5M in annual payroll and has paid Federal taxes within the last 3 years or plans to in the current year.

To learn more about the R&D Tax Credit and other opportunities for you and your clients and prospects, meet with Chelten Benefits Group.

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