R&D Tax Credits for Startups, Small-to-Medium Sized Businesses
Federal tax credits for research and development (R&D) aren’t just for large companies performing groundbreaking research. Thanks to the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), businesses of all sizes can benefit from the R&D tax credit. That’s good news for startups and small-to-medium sized businesses, but applicants still need to establish a documentation process and appropriate tracking mechanisms. Is your NYS business able to claim this federal tax credit?