R&D Tax Credits for the Craft Beverage Industry: The Ice Cream Truck is coming!

July 19, 2018 – Ok, I have to do it. I scream, you scream….we all scream for BEER ICE CREAM.

That is right fellow New Yorkers, a law has passed allowing the sale of beer and cider ice cream. My first thought, I now have a business excuse to buy ice cream from the ice cream truck. My second thought, being an extremely novice home brewer, is I have to try to make this and I cannot wait to see what Master brewers/Artisanal ice cream makers are going to come up with.

My third thought, being a tax accountant, is that there are huge Research and Development Tax Credit opportunities here. For example, did you know a qualified Tax Credit activity could include your process on how you develop the new flavors or enhancements? Don’t leave your investment costs on Research & Development go unclaimed! If you are thinking about creating some unique innovative flavors, please contact me and I can work with you on claiming this money.

Quote from Senator Seward, Sponsor of Law S8830 Chapter 118. “Both the dairy and craft beer/cider industries are key contributors to our agriculture economy. By combining the two, we are able to capitalize on homegrown New York ingredients with the creation of a cool new, innovative product.”

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Visit our R&D Tax Credit Services for the Craft Beverage Industry.

Dopkins R&D Tax Team is prepared to part of this process and help your business capture this credit. To learn more about Dopkins Research & Development Tax Credits for the craft beverage industry, please contact Eric Soro, CPA at esoro@dopkins.com.

About the Author

Eric R. Soro CPA

Eric, a Tax Advisory Group Manager, embraces the challenges of taxes and puts them to work for the client. He focuses on every aspect of a client's needs, from preparing top-level corporate and partnership returns through to the culmination of member and shareholder individual returns. Taking into account the ever changing tax laws, Eric researches the complex topics that affect his client's taxes so that he may efficiently plan his process and yield the optimal results. He joined Dopkins as an intern in 2006 then full-time in 2007 upon graduation.