Are R&D Tax Credits Available in Washington?
No. While companies located in the state of Washington may qualify for the Federal Research and Development (R&D) Tax Credit, Washington no longer offers the credit at the state level at this time. The state R&D Tax Credit expired on December 31, 2014. If a company took paid B&O tax, they may be able to amend as far back as 2011.
Get More Information About the R&D Tax Credit
The R&D Tax Credit, first enacted in 1981, has been one of the most valuable credits leveraged by companies. Every year, the R&D credit yields billions of dollars in federal and state benefits to companies engaged in qualifying research. This credit provides much-needed cash to hire additional employees, increase R&D, expand facilities, and more. Thousands of companies take advantage of the credit across several industries. » Learn More