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Catalyzing Innovation in the Chemicals Industry: How the Research and Development Tax Credit Can Benefit Your Company
Yair Holtzman and Matthew Bechtold of Anchin, Block & Anchin explain the costs that are eligible for-and computations required to claim-research and development tax credits, with a special emphasis on the availability of R&D credits for work undertaken by companies in the chemical industry. “Often, credits mistakenly are assumed to apply only to the creation of a new product or package, but chemical companies can qualify for research tax credits in a number of ways-including for incremental product and process improvement activities they already perform,” the authors write.