Our client is a pre-revenue startup in New York City who is integrating various technologies to help in finding various cancerous cells and tumors in its earliest stages. They’ve had $2.5 million in qualified expenses which includes payroll, consumed lab materials, physical rent, virtual cloud development expenses and payment for outside contractors.
The company is eligible for Federal R&D Tax Credits as well as Life Sciences Credit that is unique to the state of New York. All in all we’ve helped the company recieve the following credits:
- $240,000 in Federal R&D Credits
- $150,000 in New York Life Science Credits
If your business is New York City based, in the Life Sciences Industry, and/or a startup under 5 years old, please contact us to find if the credit work we do can be a life saver to your business.
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The provided examples are for illustrative and informational purposes only. Results may vary depending on individual circumstances, and Manufacture Results LLC cannot guarantee the same outcome for others. Be sure to consult your own legal and tax professionals when making decisions for your specific situation.