The Research and Development Tax credit has taken a lot of criticism for being un-impactful. One reason is the business generating the credit had to have income to use the credit.
Since the PATH act, small businesses in their first 5 years with less than $5 million of gross revenue can use what once was only a federal income tax credit as a payroll tax credit. See my previous blog about the details and how to maximize the credit.
Since my article,