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The R&D Tax Credit for Cannabis & Hemp Companies

There are some well-known opportunities for tax credits available within the agriculture industry, but 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 research and development credit available to them for work they’re already doing.

Download R&D Tax Credits in the Hemp & Cannabis Industry Now

Does your business operate in the Hemp and Cannabis sector?

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 in the Cannabis Industry?

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. 

Initiatives that may qualify for R&D tax relief for cannabis/hemp companies 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…

Ayming’s specialists will help make a successful R&D tax credit claim

Ayming USA has the expertise to review the time tracking, contractual agreements, and other industry-specific documentation to deliver accurate results.

Our industry-specific consultants have hands-on experience and knowledge of the Hemp & Cannabis sector. We always take the time to truly understand how your company innovates so that we can expertly identify all qualifying expenditures to help you make a successful claim for R&D tax credits.

Download your free factsheet

We’ve put together a handy, streamlined summary of research and development in the Hemp & Cannabis industry. Simply fill in your details to download your free factsheet and learn more about building your business with R&D tax incentives.