The R&D tax credit is one of the most powerful incentives in the tax code. Due to the broad definition of “qualified research”, businesses in nearly every industry take advantage of the credit. To see what activities may qualify, check out the Industries page to learn about R&D for your company. The R&D tax credit is based on “qualified research expenses” (QREs) – for every dollar spent on QREs, you can earn up to 8.0% in federal tax credits! Additionally, over 40 states offer similar R&D tax incentives that can double benefits in some cases.