Are R&D Tax Credits Available in Wyoming?
No. While companies located in the state of Wyoming may qualify for the Federal Research and Development (R&D) Tax Credit, Wyoming does not offer the credit at the state level at this time.
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
Four-Part Test
Qualified research activities are defined by the four-part test outlined below
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Technological in Nature
Activities must fundamentally rely on the principles of physical or biological science, engineering, or computer science.
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Permitted Purpose
Activities must be performed in an attempt to improve the functionality, performance, reliability, or quality of a new or existing business component.
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Eliminate Uncertainty
Activities intended to discover information that could eliminate technical uncertainty concerning the development or improvement of a product.
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Experimentation
All activities must include a process of experimentation including testing, modeling, simulating, and systematic trial and error.