The Federal Research and Development Tax Credit, and the NYS Qualified Emerging Technology Credit (QETC).

Is your organization taking advantage of all the tax benefits they are entitled to? No matter the current economic state, any tax dollar saved is a good tax dollar. Small to medium-sized businesses, that spent resources to develop or modify a product and improved processes, may be eligible for The Federal Research and Development Tax Credit, and the NYS Qualified Emerging Technology Credit (QETC).

Gaines Kriner Elliott's team of subject matter experts have knowledge and experience from working with our clients to maximize these credits. Organizations with qualifying expenditures may be eligible to amend their tax returns, from three years prior to claim credits, and receive an additional refund.

Your company may qualify for the tax credits - they are not only for scientific companies. Whether you developed or modified a product or process, you may be credited for the time and materials spent. Qualifying expenditures include items such as: employee wages, supplies, and all new product development activity.

Does your organization qualify for the Federal Research and Development, and the New York State QETC Credits?

Gaines Kriner Elliott is currently offering 15 minute educational webcast presentations, that will provide you with a brief introduction, of the Federal Research and Development Tax Credits and the NYS QETC. As a result of your attendance, you will be provided with the necessary information and qualify for the next step - an evaluation of your potential tax credits, which we will provide to you at no fee!

Attached is further information regarding the Federal Research and Development Tax Credits and the NYS QETC, and Cheryl Prout's biography for your review.

For further information and clarification on these matters, please contact Cheryl A. Prout, CPA and Partner at (716) 250-6600.