Concrete manufacturers are often unaware that they are eligible for federal and state R&D tax credits. These can provide both an immediate source of cash and significant reductions to current and future years’ tax liabilities.
We work closely with precast and concrete masonry companies, and find them to be very innovative. Examples of precast manufacturing activities that qualify for R&D tax credits include:
- Developing detailed design, fabrication processes, and installation plans for advanced precast concrete structures.
- Developing highly innovative pre-cast system erection and positioning techniques.
- Running multiple, iterative computer simulations and analyses for precast structures to meet final configuration, taking into account all connections, reinforcements, and anti-corrosion provisions.
- Testing alternative formulations for unique customer applications.
- Providing significant time-saving measures with highly innovative pre-cast structures that are designed, developed and ready to install.
Precast Concrete Company — Client Example
Annual Revenue: $23,000,000
Federal & State R&D Credit: $164,000