THE APRIL 18TH TAX DEADLINE IS APPROACHING FAST
DON'T FORGET TO CLAIM YOUR R&D TAX CREDIT! BOOK A CALL TODAY

TAX DEADLINE

00

Days

00

hours

00

min

00

sec

ATTENTION: THE APRIL 18TH TAX DEADLINE IS APPROACHING FAST - DON'T FORGET TO CLAIM YOUR R&D TAX CREDIT!

BOOK A CALL TODAY
Get insights into how to save on taxes. Talk To Our Experts.
Get insights into how to save on taxes. Talk To Our Experts

R&D Tax Credits for the Agriculture Industry

If you operate in the agriculture space, there's a strong possibility that your business qualifies for the R&D tax credit. Here’s what you need to know!

R&D Tax Credits for Agriculture

Most people think of the R&D tax credit as a tool to help multinational firms invest in expensive lab work and to help tech companies build innovative new products. But in reality, the R&D tax credit is a piece of legislation designed to incentivize innovation across American industries.

The misconception that the R&D tax credit isn’t for all industries means that a majority of eligible companies are missing out on claiming the money they’re owed. That's why Neo.Tax has created the ultimate guide for Agriculture R&D Tax Credits.

Does your agriculture business qualify for the R&D tax credit?

If you operate in the agriculture space, there's a strong possibility that your business qualifies for the R&D tax credit. To be eligible, you need to meet certain qualifications:

  1. You are working to eliminate a technical uncertainty.
  2. You are experimenting via modeling, trial-and-error, simulation or other methods.
  3. The experimentation process relies on a hard science.
  4. The goal of this process is to create a new or improved product or system.

What are some qualified research examples specific to the agriculture industry?

Some ways your business may be eligible for R&D tax credits include the following:

  • Hybridizing during the development of new strains of crops, plants, or livestock
  • Improving harvesting techniques to increase yield or production efficiency
  • Developing or implementing automated processes
  • Developing or implementing new ways to protect crops from disease or insect pests
  • Developing and implementing new irrigation systems
  • Developing new or improved packaging processes

How Neo.Tax can help your agriculture business file for the R&D Tax Credit?

At Neo.Tax, we have the expertise, technology, and resources to simplify the process of claiming tax credits. We specialize in assisting businesses, including those in the agriculture industry, in identifying and documenting qualified expenses to maximize the value of the R&D tax credit. We stay up-to-date with regulatory changes, ensuring that our clients remain compliant with the relevant tax credit legislation impacting their business.

Don't miss out on potential tax credits. Let Neo.Tax help your business navigate the R&D Tax Credit process with ease. Book a call with us today and see how much money you’re owed!