Industries | R&D

R&D Tax Credit Pharmaceutical

R&D Tax Credits for the Pharmaceutical, Nutraceutical, Bioceutical Industry

The pharmaceutical, nutraceutical, and bioceutical industry is ripe with opportunities to qualify for the R&D tax credit. The more evident areas of R&D include activities carried out by chemists, process engineers, and quality engineers.

However, it’s crucial to recognize the less obvious areas of R&D as well. These include secondary costs such as wages for support staff, computer leasing costs, and consumables or raw materials used within the development process.

A further underappreciated area is the time and expenses associated with batch formulations during the production scale-up process. The efforts invested in the production, testing, and validation of the initial production runs can qualify for the credit, especially when the formulation is new or has been modified. Thus, this credit becomes an important factor in offsetting the substantial investments these industries often make.

Qualified Research Activities for Pharmaceutical Manufacturers

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Highlights in
the Case Study

This company’s qualified research activities generated a combined federal and state tax credit of over $600,000.

For over 25 years this company has supported healthy lifestyles and pet care through their research and development of high quality, innovative products.

 As an industry leader in production standards and quality control the company supports extensive laboratory research and clinical studies on its products which have been published and presented in medical and veterinary journals.

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.