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What to know about cannabis and the Research and Development Tax Credit

from Accounting Web

The Research and Development (R&D) Tax Credit remains one of the best opportunities for businesses to substantially reduce their tax liability. For what amounts to their daily activities, companies from a wide-range of industries can qualify for federal and state tax savings high to enough to allow companies to hire new employees, invest in new products and service lines, and grow their operations. Now, due to numerous modifications and expansions (especially with the TCJA), more companies than ever before can benefit from this valuable incentive, particularly cannabis businesses. more

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