Industries | R&D

R&D Tax Credit Chemical

R&D Tax Credits For
The Chemical Industry

Chemical manufacturers engage in a wide array of activities that can qualify for the R&D tax credit. This extends from product development and formulation to the intricate design and creation of large-scale production plants. Companies that focus on developing a few chemical products often allocate significant resources to product development, safety validation, and regulatory approval.

On the other hand, larger enterprises may incur substantial expenses in designing and building plants for mass production. The use and development of pilot plants for testing and scaling up the production process can also qualify for the credit. Moreover, activities related to the safety, stability, and packaging of chemical products often involve extensive R&D efforts and thus may qualify for the tax credit. Eligible sub-industries within this sector include consumer chemicals, industrial chemicals, cosmetics, textiles, and many more.

Qualified Research Activities
For Chemical Manufacturers

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Chemical Case Study

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Highlights in
the Case Study

  • Combined Federal and State R&D tax credits realized over several years: $75,000  
  • This company has more than $1,500,000 in qualified research expenditures each year, which equates to $104,000 of tax savings each year.

For over 35 years this chemical company has developed and manufactured environmentally friendly products for personal care, household and industrial use. 

Take Advantage of the R&D Tax Credit with Source Advisors

The R&D tax credit can help a wide variety of businesses offset and reduce their income tax liability, in addition to providing many other benefits. Our team of experienced CPAs, attorneys, engineers, and technology experts helps companies save money and create cash flow with R&D tax credits that can then help drive overall growth.