ERIE – Manufacturers often think of “research and experimentation” as groundbreaking innovations and inventions. However, they overlook the Credit for Increasing Research Activities, commonly known as the “R&E Tax Credit”, not realizing that time and resources used for prototyping and developing molds, tooling, and new products can be used to reduce their tax burden.
NWIRC will host a free program to review how companies can take advantage of this benefit, featuring the R&E Team from McGill, Power, Bell & Associates. The session will cover an overview of the federal and state R&E tax credit, recent regulatory changes, qualifying expenditures, examples of industries that typically qualify, documentation requirements, analysis of our region, and more.
The program will be held from 8:30 – 10 a.m. December 15 at the Knowledge Center, 5240 Knowledge Parkway, Erie. To register, visit the events schedule at www.nwirc.org or call 814/898-6888.