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 OFS & Energy sector?
The innovative nature of many of the products and services offered by today’s OFS and Energy Services companies means that some form of technical investigation and analysis is nearly always necessary—a key requirement in qualifying for the R&D Credit. In addition, as OFS and Energy Services companies develop solutions for producers, they take on technical issues with uncertain solutions.
Transformation and technological development are daily challenges for companies in the OFS and Energy Services sector. However, resolving many of these technical challenges often qualifies as research and development from a tax perspective and you’re more than likely to be eligible for generous tax relief.
Which activities qualify for R&D tax credit?
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:
- New product development
- Customization of existing product lines for a client’s specific needs
- Flow assurance simulations
- And many more…
Download your free factsheet
We’ve put together a handy summary of research and development in the Energy & Oilfield Services industry.
Simply fill in your details to download your free factsheet and learn more about developing your business with R&D tax incentives.