RESEARCH & DEVELOPMENT

TAX CREDIT

TECHNOLOGY - PAYMENT PROCESSING COMPANY

Overview:

The client is a technology company that develops payment solutions for merchants and developers. The company has invested heavily in technology, algorithms and other intelligence tools. The investments had been made through leveraging existing personnel as well as contracting work through a third party developers and engineers.

Challenge:

The company’s significant investment in technology, personnel, sales and marketing activity were incremental and did not have the internal resources to research available government incentives. Every time the company tried to take the time to identify government programs, there were other projects that demanded priority.

Solution:

Economic Incentives Advisory Group (EIAG) met with the leadership group of the organization. It was quickly determined there as six-figures of tax refunds available to the client. Key personnel were interviewed and prior expenses were identified that qualified for federal and state tax credits.


Results:

The client was able to receive a very significant refund check. Additionally, a process was created to efficiently track future qualified expenses so that the company could continue to receive the economic benefit from this program. The company’s profitability has improved as a result of claiming this credit.

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