The life sciences industry has experienced unprecedented growth and increased demand for clinical space due to a growing patient population and treatment options. Additionally, medical and technological advancements have created opportunities for companies to design and develop state-of-the-art laboratories and facilities with specific requirements for ventilation, vibration, energy efficiency and electromagnetic shielding, just to name a few. We will explore how architecture, engineering and construction firms are responding with new and innovative designs and the impact on the R&D tax credit.
The federal research and development (R&D) tax credit under Internal Revenue Code (IRC) section 41 was first introduced by Congress in 1981. The purpose of the credit is to incentivize U.S. companies to continue and increase spending on research and development within the U.S. The R&D tax credit is available to businesses that uncover new, improved, or technologically advanced products, processes, principles, methodologies or materials. In addition to “revolutionary” activities, in some cases the credit may be available if a company has performed “evolutionary” activities such as investing time, money, and resources toward improving its products and processes. The R&D tax credit can serve as an immediate source of cash to refuel innovation.
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8:30 – 8:50 am - Registration and Continental Breakfast
8:50 –9:00 am - Welcome and Introduction
Mitchell Simpler, NYC Builds BIO Founding Member, Managing Partner Emeritus, JBB
9:00 – 10:00 am - At the Intersection of the Life Sciences, Architecture, Engineering Construction Industries–the Research & Development Tax Credit
Yair Holtzman, CPA, MBA, MS, CGMA, CPD, Partner, Practice Leader – R&D Tax Credits and Incentives, Life Sciences and Chemicals and Energy; Anchin, Block & Anchin LLP
Sharlene Sylvia-Casimir, CPA, MST, Senior Manager, R&D Tax Credits and Incentives, Life Sciences and Chemicals and Energy; Anchin, Block & Anchin LLP