Telecommunications R&D Tax Credit
The Telecommunications Tax Credit is available to businesses that invest in eligible telecommunications property. The credit is intended to encourage companies to upgrade their telecommunications infrastructure, resulting in improved service for customers and increased efficiency for the business.
The credit may be used to pay for technological development and improvements. It can help offset the costs of technology upgrades and innovations for satellite providers, and cable companies. The amount of the credit is equal to 30% of the eligible investment, with a maximum credit of $1,000,000 per year. The credit may be claimed on the business’ annual tax return.
It has several other advantages for the communication, internet, and television service industries. These include better cash flow and financial flexibility, as well as incentives for R&D-related expenditures. Qualified businesses can also utilize the tax credit to reimburse money spent on research and development (R&D) projects and local taxes owed.
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R&D tax specialists have your back
In-house experts prepare and validate your claim, applying their collective decades of experience in finance, tax, and technology to maximize your eligibility. Regular check-ins throughout the year mean you are always making the most of your innovations without the end-of-year deadline scramble.
