– Food product formulations to achieve specified analytical requirements, including those related to pH level, brix level, acid content, and product viscosity
– Ingredients and/or formulations
– Packaging, canning, or redesigning existing packaging (e.g., eco-friendly, biodegradable, recyclable, portable, grab-and-go, drinkable, increase shelf-life)
– Production process specifications and techniques for new food products, including mixing times, batching sequences, and cooking temperatures
– Production processes for efficiency and waste reduction
– Testing product designs to reduce costs, meet new federal/state/local health regulations, ensure consistency, or improve shelf life
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.