Wisconsin has always been known for its strong industrial foundation, cutting-edge manufacturing, and growing tech sector. To stay competitive and innovative, businesses in the state continue to invest in research and development. Fortunately, the Wisconsin and the Research and Development (R&D) Tax Credit provides significant incentives for companies that prioritize innovation.
Whether you're a startup or a well-established corporation, understanding how this tax credit works can lead to substantial tax savings and reinvestment opportunities.
What Is the R&D Tax Credit?
The R&D Tax Credit is a federal program designed to encourage businesses to invest in new product development, process improvements, and technological advancements. This credit is also offered at the state level in Wisconsin, making it even more beneficial for companies operating locally.
Wisconsin provides a non-refundable credit that equals 5.75% of qualified research expenses over a base amount. In addition, companies may be eligible to claim up to 10% for research conducted in collaboration with qualified institutions, such as universities or colleges.
What Activities Qualify in Wisconsin?
Many business owners assume that only high-tech or pharmaceutical companies qualify for R&D credits, but the scope is much broader. If your Wisconsin-based business is:
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Developing new or improved products
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Enhancing manufacturing or production processes
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Creating custom software
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Conducting technical experimentation or prototyping
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Collaborating on research with universities
Then your activities may qualify for both state and federal R&D tax credits.
Why Claim the R&D Credit?
The Wisconsin and the Research and Development (R&D) Tax Credit helps reduce your company’s overall tax liability, allowing you to reinvest those funds into further innovation, new hires, or business expansion.
This is especially beneficial in sectors like:
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Advanced manufacturing
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Agriculture and food processing
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Health tech and biotech
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Software development
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Renewable energy solutions
Even small and medium-sized businesses in Wisconsin can benefit—often retroactively.
Expert Guidance Matters
Claiming the R&D tax credit can be a complex process. It requires detailed documentation, technical expertise, and compliance with both state and federal regulations.
That’s where Swanson Reed comes in.
???? To explore your eligibility and start your claim, visit
Wisconsin and the Research and Development (R&D) Tax Credit
on the official Swanson Reed website.
Swanson Reed specializes in helping businesses across Wisconsin and beyond navigate the R&D tax credit process with ease. From identifying eligible projects to preparing proper documentation, their team ensures you maximize your claim without the hassle.
Final Thoughts
Wisconsin is a state that thrives on innovation. The R&D Tax Credit is a valuable tool that rewards that spirit and helps businesses grow. If your company is developing new ideas or processes, don’t miss out on this opportunity.
Visit
Swanson Reed – Wisconsin R&D Tax Credit Experts
to learn more and claim what you deserve.