Put Money Back in Your Hands with R&D Tax Credits
As a manufacturer, you may be unaware that many of your efforts to design your products qualify as R&D and may make you eligible for tax credits for expenditures associated with these activities. R&D credits may be applied to taxes due or to future tax liability, and they may be retroactive for three years in addition to the current year and carry forward for twenty years!
Qualify for R&D Tax Credits with NJMEP
NJMEP will identify, qualify and quantify the expenditures in your organization. Expenditures include: the salaries and wages of the engineers working on a project, the cost of supplies, and third party contractor fees getting SLA or FDM prototype parts made by a rapid prototyping service center. In addition to expenditures, tasks performed by executive leadership, legal, manufacturing, sales engineers, operations and IT are also evaluated. Additional R&D activities, other than new product development that qualify for this credit.
These activities for business process improvement include:
- Implementing Lean Manufacturing
- ISO 9000 and other standards
- Developing a new business component (product, process, software system, etc.)
- Improving an existing business component
Estimate Your Credits
NJMEP offers a complimentary calculator so that you can estimate your potential savings!
New Jersey manufacturers of all sizes have realized the benefits of R&D tax credits through NJMEP! To learn about some of our recent successes, click here.
NJMEP – Your Authority for R&D Tax Credits
A no-cost, ten-minute phone conversation with our R&D Tax Credit specialist can help you determine your eligibility to get in on this valuable benefit.
Apply for R&D tax credits with NJMEP by filling out the form below or calling 973-998-9801.