If you work in cannabis, CBD, or hemp testing, farming, cultivation, manufacturing, or distribution, you could save thousands of dollars — risk-free.
– Experimenting with lighting, fertilizers, plant spacing, and other variables to increase yield or production
– Improving efficiency during growing and harvesting
– Developing new strains or concentrates
– Exploring LED lighting or automation for indoor growing
– Researching strains and methods for medical use
– Exploring new and improved edible creations, topical creams, or skin absorption techniques
– New oil products and extraction techniques
– New smoking, vaping, or dabbing technology
– Testing new filtration systems for air and water
– Developing improved technologies for delivery
– Creating new analytical tools for strand identification
– Studying uses for biofuels, textiles, and other materials
– Implementing new or improved processes to get more accurate readings of potency and related indicators
It’s a tax credit the U.S. government provides for qualified Research and Development (R&D) activities to incentivize innovation.
It means that your company could save up to $300,000 on taxes — offsetting things like payroll and helping propel your business.