Apparel and Textile Companies
Companies within the apparel and textile industry are able to qualify for R&D tax credits for steps that are taken to improve or develop existing products, and manufacturing processes. Many companies are performing qualifying activities in their day to day operations already, including the construction of dye formulas, fabrics, waterproof clothing, and material changing technologies.
The apparel and textile industry is constantly growing, and companies are having to perform innovative research and development in order to keep up with their competitors. Many companies are investing time and resources into creating “smart” apparel and textile products, which often qualifies them for R&D tax credits.
Qualifying activities include
- Researching materials in order to make them last longer
- Testing the advancement of clothing moisture management
- Researching materials that will last longer
- Inventing smart clothing that can prevent stains and remove odors
- Innovation in fiber, yarn, and other apparel and textile materials
- Testing and developing better weaving materials
If your company is within the apparel and textile industry, and performing research and development, you may qualify for the R&D tax credit.