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Hemp & Cannabis

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The R&D Tax Credit is the biggest tax credit available to U.S. businesses, yet also one of the most underutilized.

Does your business operate in the Hemp and Cannabis sector?

Given complicated regulations, and the fact THC is still federally illegal, it comes as
no surprise that many Hemp and Cannabis companies are not yet claiming the credit. However, if your business like many others in the space is spending a large amount of time and money on the development of new products and/or processes, it’s likely you’re performing qualified R&D activities and thus are leaving money on the table by not applying for the credit.

What counts as R&D?

If your business is involved with any of the following areas and you are not already claiming R&D tax relief, then it’s likely that you could be.

Projects that may qualify for R&D tax relief include:

  • Creating new irrigation/hydroponic systems

  • Developing new ways to prevent mold or plant loss

  • Designing new packaging and shelf-life methodologies

  • And many more…

We analyze all of your expenses and activities – both past and present – in order to determine the true extent of your eligibility, not just the obvious low-hanging fruit. Download our Hemp & Cannabis R&D Factsheet below to learn more about R&D in the Hemp & Cannabis sector and see more projects that qualify for R&D tax relief.