Of all the industries that currently take advantage of R&D tax credits, Manufacturing is the largest. In fact, as stated in the article, in 2013 over 6.8 billion dollars of R&D tax credits went to manufacturing companies. This is not surprising given the amount of experimentation, uncertainty, testing and engineering required to manufacture even simple products.
This article focuses on even further possible tax credits available due to IRS regulations updated in October 2016. The definition of Internal Use Software or IUS, has been narrowed and now the possible IUS eligible has increased dramatically.
What this means is that across […]