Research & Development Credits
FEDERAL and STATE
Is your business getting the full benefit for its Research & Development activities and costs for Video Games?
FEDERAL and STATE credits
◦ Reduce tax liabilities dollar for dollar!
◦ Rules are applicable for all open tax years and allow tax returns to be amended to claim credit even if not previously claimed.
◦ Companies without income tax liabilities may instead use the calculated amount to offset payroll taxes.
Qualified R&D Expenses for Video Games
• Wages paid to employees performing “qualified research”.
• Material portion of expenses paid to vendors participating in “qualified research”