A man with a beard and a pink bubble with the words let's talk.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
close

New York
R&D Tax Credits

Connect with us to find out how R&D tax credits can boost your organization’s bottom line.

go back
This post was last updated on Apr 12, 2024.

New York R&D Tax Credit

Discover the benefits of New York state credits and see how your business could qualify.

15
%
credit on qualifying expenses for firms with 10+ employees
20
%
credit on qualifying expenses for firms with <10 employees
%
3-year
carry forward for credit usage

New York R&D Tax Credit Eligibility Summary:

Is the R&D Tax Credit Available?:
Yes
No
Eligible Entities:
C-Corporation, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with New York Tax Return
Data Required to Compute Credit:
Claim Period New York Qualified R&D Expenses (QREs)
What Information is needed?:
Qualified R&D Expenses

New York R&D Tax Credit Guidelines:

  • The Life Sciences tax credit does NOT include Contract Research expenses in the quantification of QREs.
  • Program credits of $10 million per year can be allocated and used to encourage new businesses to conduct their research and development in the State.
  • The credit is allowed for up to three consecutive years beginning with the first taxable year on or after January 1, 2018 during which the qualified life sciences company meets the eligibility criteria. The credit is capped at $500,000 per year for a lifetime cap of $1.5 million.

New York R&D Tax Credit Case Study

A New York-based company recovered thousands in R&D tax credits to refuel growth.

$

Total state R&D tax credits earned

%

Amount of wages qualified for tax credits

$

Total R&D tax credit earned

Key New York R&D Tax Credits R&D Tax Rules Changes

2019' - 22
22' and after
2019' - 22
22' and after

Resources

There are many other considerations and exemptions, including what documentation the IRS requires for the R&D tax credits. Stay updated to navigate the new tax laws with confidence.

Heading

Connect with us to find out how R&D Tax Credits can boost your organization’s performance.

Ready to Maximize Your State Credits?

With just a little info, our Strike Experts can help you start your R&D tax credit journey.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
go back

Heading

This is some text inside of a div block.

What’s a Rich Text element?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Ready to calculate your R&D tax credits?

To get an estimate of the potential value of your unclaimed R&D Tax Credits, try out our credit calculator.

A phone and a tablet displaying a tax calculator.
Download the app.

Download our R&D Tax Credit Calculator for Android to see how much you can receive from your qualified R&D tax credit expenses.

google-pay
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
A black background with a lightning symbol.
a screenshot of a tax calculatora screenshot of a tax calculator