Скачать или смотреть Washington Research and Development Tax Credit - Swanson Reed | Specialist R&D Tax Advisors

Discover how your business can benefit from the Washington Research and Development (R&D) Tax Credit. This incentive program is designed to support innovation and stimulate economic growth by offering tax relief to companies engaged in qualified R&D activities. While the program was historically available through a B&O (Business and Occupation) tax credit, it has since evolved, with certain credits phasing out or being replaced by alternative incentives and grants.

Eligible businesses that engage in activities such as product development, software engineering, biotechnology, advanced manufacturing, and other qualifying research work may qualify for tax benefits under various state and federal programs. Washington state has also supported innovation through the Life Sciences Discovery Fund, the Innovation Partnership Zones (IPZs), and other local initiatives that promote research-driven economic development.

Although Washington’s original B&O R&D Tax Credit expired in 2015, companies operating within the state can still leverage federal R&D tax credits and may benefit from other state programs, such as sales and use tax exemptions for qualified equipment and facilities used in R&D. Understanding how these programs work and how to qualify is crucial for maximizing your return on innovation investments.

Learn who qualifies, what expenses are eligible, how to document your research activities, and how to claim available tax incentives effectively. Whether you're a startup in Seattle or a manufacturing firm in Spokane, this guide to Washington R&D tax credits and incentives provides the insights you need to fuel your growth.

Please visit https://www.swansonreed.com/washington/ or call us on +1 (206) 558-3300 to learn more.