Inovatec: Corporate Tax Consultants
Inovatec specializes in providing tax solutions for corporations. Based on federal and state tax regulations, we work with our clients to determine research and development credits and export benefits.
R&D Tax Credits and Refunds
The federal research and experimentation tax credit (commonly called “R&D Tax Credit”) is available for qualifying research performed in the United States. This tax credit is designed to encourage commercial R&D investment, allowing companies to bring new and improved products and services to the market. The credit computation is based on business expenditures for qualified research activities. Qualifying activities range from concept development to direct support and supervision.
IC-DISC
IC-DISC (Interest Charge – Domestic International Sales Corporation) is an export tax benefit. This benefit enables an exporting company to reduce its taxable base at the corporate level. In order to achieve this objective, the exporting company creates a tax-exempt IC-DISC which receives commission payments. These payments are related to the export activities of the company and are taxed at the significantly lower dividend tax rate. An IC-DISC is the only major export incentive that encourages growth and activity through tax savings.