Metals & Alloy Manufacturing R&D Tax Credits

Businesses involved in metals and alloy manufacturing provide support to companies in the industrial, engineering, and defense sectors. However, creating materials that meet client demands necessitates research and development, which can put a strain on your budget.

Your firm may qualify for the R&D tax credit in the Metals & Alloy Manufacturing industry to recover some expenses. However, you must be involved in testing, upgrading goods and processes, or developing innovative metal and alloy manufacturing technologies. Depending on the location in which your firm operates, you might be able to collect refunds that go as high as 22% of your qualifying expenses.

Qualifying Costs and Activities

Research-related costs you can recoup using the Metals & Alloy Manufacturing research and development tax credit include raw materials, cloud computing services, subcontractors, supplies, and employee payrolls. For instance, you can cover wages for supervisors, materials engineers, process engineers, metallurgists, fabricators, C-suite, brazers, welders, cutters, solderers, and boilermakers.

Activities you should conduct to be able to claim this credit are:

• Adding novel foundry techniques to the melting, charging, and shaping processes;

• Exploring flat blank layouts for applications involving metal manufacturing;

• Creating and using innovative cutting tool technologies;

• Testing prototypes and first products for quality assurance;

• Reducing the production of trash and using recycling methods for surplus materials;

• Inventing new alloy and metal formulations, such as metal matrix composites (MMC);

• Optimizing welding procedures in order to improve efficiency and safety;

• Improving heat treatment techniques and technology.

Calculating and applying for Metals & Alloy Manufacturing R&D tax credit is not always easy. Because of that, we offer our free estimate and help without asking you to pay upfront.

FAQs

What kind of companies can apply?

Metals and alloy manufacturers that conduct qualifying research activities.

What data do I need to calculate credit?

Claim period gross receipts.

What information do I need to provide?

General ledger expense detail, payroll records, project notes, project lists, emails, purchase orders, and other documents regarding QREs for the claiming period.

Is credit carryforward an option?

Yes, up to twenty years.