Government
Dec. 6, 2022
Small business R&D tax credits have increased
The Inflation Reduction Act provides qualifying startups and small businesses increased R&D tax credit to offset payroll tax.
The Inflation Reduction Act (IRA) of 2022 significantly increased the maximum research and development tax credit available to offset payroll tax for qualified small businesses. For those start-ups and small businesses that qualify, this is a bottom-line benefit with considerable impact.
Section 13902 of the Inflation Reduction Act increased the maximum credit available to offset employer payroll tax to $500,000 per year. The Act also exp...
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