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Fewer Than 30% of Eligible Small Businesses Claim the R&D Tax Credit, K-38 Consulting Reports
K-38 Consulting says many firms miss out because they assume the credit is only for large labs, even though some claims can reach $250,000.
- Fewer than 30% of eligible small businesses claim the federal Research and Development tax credit, resulting in significant unclaimed tax savings annually according to Armanino's analysis cited by K-38 Consulting.
- Many business owners are unaware of the credit or mistakenly believe it only applies to large companies conducting lab research.
- The R&D tax credit covers companies developing new or improved products, processes, software, techniques, formulas, or inventions, which is broader than many business owners realize.
- Since the 2015 PATH Act, the credit has become more accessible to small and midsize businesses, including startups that can apply the credit against payroll tax liability.
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Total News Sources59
Leaning Left7Leaning Right5Center40Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
13%
C 77%
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