Manufacturers now know that developing new or improved products or processes can qualify them for the Research & Development Tax Credit, but did you know that eligible companies generally have at least 3 years from the date you filed your tax return to claim the credit via an amended return?
This means you may be able to regain funds paid from 2015, 2014, and 2013 to the federal government.
In addition, Ohio offers an R&D tax credit incentive. If your business qualifies for the federal credit, there is a chance you may also qualify for state tax savings.
Read more from OMA Connections Partner, Tax Credit Group. 10/3/2016