The R&D credit allows U.S. taxpayers to re-capture roughly 10% of their qualified annual R&D spend (wages, supplies, and contractor costs) as a tax credit. The qualification and calculation methodologies are laid out in Section 41 of the Internal Revenue Code. The legislation around the credit is constantly evolving. As recently as 2022 significant changes have come into play. The R&D credit is the most lucrative tax credit offered by the tax code, but requires a breadth and depth of expertise to calculate and capture properly.