Provides New Opportunity to Educate Ohio Manufacturers on the Research Credit
Cleveland – December 22, 2015 – Tax Credits Group, (TCG) is proud to announce its membership in The Ohio Manufacturer’s Association, (OMA). As such, TCG becomes an OMA Connections Partner.
The mission of the OMA is to protect and grow Ohio manufacturing. Through the OMA, manufacturers and manufacturing stakeholders work directly with members of the Ohio General Assembly, state regulatory agencies, the judiciary community and statewide media with the sole focus of improving business conditions for manufacturers in Ohio. The OMA offers its members education and support services in critical business areas including energy, environment, government affairs, human resources, safety and workers compensation, and tax, among others.
By aligning with the OMA, TCG looks forward to the opportunity to educate Ohio manufacturers about the credit opportunity and the options to claim it.
“With the permanency of the R&D credit, there is now a greater need for manufacturers to understand the long-term value in securing this incentive,” said TCG President Michael Krajcer. “The businesses we work with claiming the credit are able to further invest in new technologies, innovations and even job creation.”
Bethany Jones-Worner, TCG Managing Director, states, “With so many complexities and misconceptions out there on the research credit, we know that many Ohio manufacturers are overlooking it. Just like the OMA, we want to help the businesses in our own backyard grow and this credit is a means to do so.”
“We are pleased to add the subject matter expertise of TCG as a resource for our members,” commented OMA president Eric Burkland.
To learn more about the eligibility to claim the Federal Research and Development Tax Credit or the Ohio Research & Development Investment Tax credit, please contact Bethany Jones-Worner at [email protected].
About Tax Credits Group:
TCG is an Ohio-based tax consulting specialty firm working to help innovative U.S. businesses of all industry sectors stay globally competitive. With headquarters in Cleveland, TCG specializes in federal and state research credit studies for small to mid-size manufacturers, software developers and financial institutions. TCG also specializes in business compliance acquisition work for mid to large-size businesses. Learn more about TCG at www.taxcreditsgroup.com.
About the Research Credit:
Enacted in 1981, the federal research credit provides a dollar-for-dollar reduction to a business’s tax liability, thus increasing cash flow and operating capital. Based on the methodology used, the federal credit can equal 20% or 14% of the qualifying expenses that exceed a base amount. The state of Ohio also provides for a 7% credit on the amount that qualifying expenditures exceeding a base amount.