Each year, billions of dollars in federal, state, and local Tax Credits and Incentives (C&I) are available to qualifying companies. There are thousands of different C&I programs available nationwide. States and cities typically offer C&I for many reasons, including trying to attract new businesses and to keep existing jobs from moving out-of-state. In addition, many Incentive programs now offer refundable cash dollars to the awarded company, especially for technology companies, in order to provide them with much needed cash, so these companies can create new businesses and jobs.
Credits are available by statute and may be claimed against current federal and state tax liabilities. They can also usually be carried forward or claimed retroactively, and in some cases can result in a cash refund to the company, even if the company is in a tax loss situation.
Our firm specializes in assisting companies, including technology, biotechnology, entertainment and media entities, in securing Incentives that result in cash dollars or tax reduction. We will analyze the best program that fits your needs, based on the type of operating entity you are, and work to secure the best way for your company to benefit from these programs.
We will work with your technology-based company on the following:
1. Federal, state and city Research & Development Tax Incentives; and
2. Refundable and/or saleable credits available even in tax loss situations, especially for technology related companies.
Other areas we can assist on include:
Tax credits, abatements or exemptions against --
1. Income and/or franchise tax;
2. Real and/or personal property tax;
3. Sales and use tax;
4. License or gross receipts tax.