ICI partners with innovating companies to identify and substantiate government-sponsored tax incentives at the state and federal levels. These incentives are primarily achieved through R&D tax credits, which reward both disruptive and incremental innovation, and can be claimed by any company conducting technical problem-solving.
Many companies are surprised to discover they qualify for an R&D tax credit. For example, suppose an environmental engineering firm employs ten engineers who are each paid $100,000 and who each spend half their time conducting technical problem-solving. This would mean the firm has $500,000 in qualified research expenses. On average, the credit produces $0.08 per research dollar. Thus, this firm could receive $40,000 in research credits for just one year.
ICI partners with innovating businesses in order to help them claim the state and federal tax credits, incentives, and deductions available to them. Governments understand the key to economic growth is innovation and have instituted a large number of robust tax incentives to help businesses grow and compete successfully.
It is estimated that only five percent of eligible businesses claim these credits and incentives because they are either unaware or assume they do not qualify. ICI exists to educate potentially eligible businesses about these incentives, as well as celebrate the innovations and innovators who benefit their community, state, or world in doing so.
ICI looks forward to having the opportunity to meet with you and discuss all of the available credits and incentives that you and your clients may qualify for!