We’re an R&D Tax Credit practitioner whose focus is on the federal program. We were happy to work with a medical startup using the credit to offset the FICA portion of their payroll and found that NY State has a nice credit available for startups in the Life Sciences as well.
Total win!
- $200,000 FICA offset Federal R&D Credit
- $40,000 CA Credit for work performed there
- $140,000 NY Life Sciences Credit as startup
Company began operations in 2021 (gene therapies) and has under 20 employees in CA and NY. It’s pre-revenue. This is a great win for the client and for the progression of science.
Contact us for a free no obligation assessment to review if there are any federal or state programs that you might qualify for.
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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.