R&D Tax Credit for Environmental Technologies

The R&D Tax Credit for Environmental Technologies is a financial incentive offered by the government to encourage businesses to innovate in eco-friendly practices and products. Companies engaging in research and development of technologies that reduce environmental impact, such as renewable energy or waste management solutions, can receive tax credits. This means they pay less in taxes based on their qualifying R&D expenses, making it more affordable to invest in sustainable technologies. The goal is to foster innovation that benefits the environment while supporting economic growth.