Adding Automation May Lead to a Lucrative Tax Credit

While adding automation comes with an upfront cost, much of those costs may be eligible for an R&D tax credit, according to this guidance from OMA Connections Partner GBQ Partners. The firm notes that manufacturers have the ability to claim a federal credit that is up to 9% of their annual R&D expenditures, as long as their costs qualify for the R&D tax credit. 8/9/2022