Reagent Development R&D Tax Credits

It takes a lot of research to create reagents for the pharmaceutical, biotechnology, and medical sectors. The iterative processes used to produce fluorescent dyes, cell lines, antibodies, and kits are prone to errors and require constant innovation.

However, companies who engage in this kind of research and development can utilize the Reagent Development R&D tax credit to reimburse part of their costs. Based on what state your firm conducts business in, you could get rebates of up to 22% of overall qualifying costs.

Qualifying Costs and Activities

Many companies in the reagent production field might be oblivious to the fact their daily operations qualify for the Reagent Development research and development tax credit. Those include:

• Creating an innovative (not yet commercially accessible) testing protocol;

• Adapting routine tests to increase functionality;

• Devising unique columns for research involving bioseparation;

• Constructing specialized panels for sequencing targets and genomic content of interest (T-cell repertoire, cancer determinants, etc.);

• Automating production procedures to boost output or cut expenses.

Having research scientists, biochemists, product managers, bioinformaticists, postdoctoral research fellows, C-suite, machine learning software developers, and cell culture technicians on your payroll also makes you eligible for dollar-for-dollar tax savings. Other QREs include materials, supplies, and subcontractors.

Our specialists can assist you in successfully claiming and realizing the R&D tax credit in the Reagent Development industry. Contact us for more information and a complimentary estimate.

FAQs

What kind of companies can apply?

Reagent 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.