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R&D Tax Credits
Plastics manufacturers, regardless of size, are continually looking for ways to improve existing processes and products and to develop new ones. Are you getting the tax credits you deserve for your research and development activities?

Tax Consulting for Plastics Manufacturing

Research and Development Tax Credits Reward Innovation

The plastics industry is grounded in innovation. Plastics manufacturers, regardless of size, are continually looking for ways to improve existing processes and products and to develop new ones. The questions is: Are you getting the tax credits you deserve for your research and development activities?
 
By extending research and development (R&D) tax incentive credits through 2009, federal lawmakers again endorsed research and development for its important role in stimulating the economy. They also increased the alternative simplified R&D tax credit from 12 percent to 14 percent. 

Help with the complicated documentation

If you have developed new technology, added new equipment, introduced new materials, performed environmental testing, improved or built new manufacturing facilities, and/or streamlined internal processes, you may be eligible for research and development tax credits.

Why hasn’t your existing business advisor suggested R&D tax credits? The process of identifying the opportunity for federal tax credits and documenting is complicated.

The tax specialists on the Plante Moran plastics industry team have the requisite industry knowledge and experience to guide your plastics company through the complex process of identifying opportunities for R&D tax credits. And you will appreciate our documentation-based approach to substantiating your claim. This is particularly important because the Internal Revenue Service (IRS) says “the taxpayer bears the burden of proving its qualification” for R&D tax credits. 

Benefit from our tax expertise and industry knowledge

We have a proven record of helping plastics manufacturers take advantage of R&D tax credits. We are particularly skillful in helping to maximize your R&D tax credits because we serve more than 1,000 manufacturers, and we know how the tax laws specifically affect manufacturers in the plastics industry.

Currently big businesses net 93 percent of all research and development tax credit dollars, even though small and mid-size businesses represent 98 percent of the nation’s businesses. We can help reduce your current year effective tax rate and often uncover unclaimed cash refunds from previously filed income tax returns. That means the IRS sends you back cash — often lots of it.

If you want to learn if your company may qualify for additional tax incentives, call us today for a complimentary evaluation of your R&D tax credit potential.

Plante Moran’s plastics and packaging industry clients appreciate our proactive understanding of their business challenges and opportunities, that we meet expectations and offer continuity of staff, resulting in more quality time devoted to the issues at hand. We deliver on our promise: to help your company thrive.

“We are a fairly data-driven metrics-oriented organization and have historically compared our 6 operations against each other internally. Participation in the North American Plastics Industry Survey (NAPIS) has taken benchmarking to the next level giving us a broad, valid comparative universe. Operationally we use the NAPIS data for enhancing the output and efficiency of our assets and goal setting. Commercially we reference the information to test the validity of “target pricing” that is frequently presented to our sales assets. Finally, and perhaps most importantly, NAPIS data has become part of our acquisition toolbox during the initial assessment and operational due diligence phases of the process. Candidly our entire management looks forward to the NAPIS survey.”
 
Al Ridilla, President
Enterprise Molded Products Business, Parkway Products Inc.