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Credits and incentives services

Identify potential cost savings with Deloitte state and local tax services

Bold changes can bring big opportunities. As you grow your workforce, upgrade your facilities, and increase your innovation, tax credits and incentives may be available. Deloitte delivers state and local tax services that help identify potential benefits that may further fuel your company’s growth or transformation.

Are tax credits and incentives on your radar?

Have plans for domestic and global investment, new headcount, or increased state R&D innovation? Foresee major business events in the not-so-distant future? Expect significant changes to or expansion of your real estate holdings?

For these and other developments, tax credits and incentives may provide cash tax opportunities that can fuel your company’s growth or transformation. Tax credits and incentives are available for a range of different reasons.

  • Location changes, such as opening new facilities; modifying, relocating, or expanding existing facilities; signing or renewing leases; changing headquarters locations; or establishing a new regional headquarters.
  • Green initiatives and sustainability efforts, whether they’re direct investments or productivity-boosting measures.
  • Employment actions, including expanding headcount, training existing or recently hired employees, or shifting their principal business location.
  • Innovation and high-tech state R&D investments for product and process, from basic research to shop floor.
  • Capital investments, from equipment purchases to the addition of infrastructure.
  • Major business events like inbound international investments, initial public offerings (IPO), mergers and acquisitions, and corporate restructuring.

Make the most of your major changes

Whether you’re entering new markets; acquiring or merging with another company; consolidating, divesting, or relocating facilities and operations; or simply growing, Deloitte can help you explore, secure, and implement tax credits and incentives so you can:

  • Mitigate unnecessary taxes;
  • Obtain immediate tax refunds;
  • Manage operational costs;
  • Improve earnings before interest and tax, net income, and shareholder value; and
  • Enhance the economic value of company initiatives.

The Deloitte national team of more than 60 state tax credit and incentives specialists has an established track record of advising companies as they identify, apply for, and obtain potential incentives, tax credits, training benefits, cash grants, abatements, and other benefits. Deloitte can help you identify potential opportunities in several key areas.

How we do it

Deloitte’s tax credits and incentives team has a national presence. Regardless of where your organization is based, we can bring the right professionals to you. Our experienced professionals will work with you through a three-step process:

  1. Strategic analysis: We develop a thorough understanding of your business structure, recent and past activities, existing incentives, and expansion plans. Then we analyze the availability and value of potential benefits and identify potential barriers to achieving them.
  2. Implementation: We advise as you begin discussions with state and local personnel, analyze incentives commitments or agreements, and help you prepare applications. We also prepare amended returns to claim for refund or generate a credit carryforward and obtain final approval of incentives applications or claim for refund.
  3. Post-implementation assistance: We advise as you monitor the ongoing utilization of tax credits and incentives and establish the compliance procedures necessary under the incentive’s agreements or credit programs.

A credits and incentives plan, customized for you

Tax credits and incentives are available across industries.

Ready to start a conversation about what tax credits and incentives may be relevant to you? The key to enhancing value from credits and incentives is to start the process early before decisions have already been made. Engage with us at the very beginning of your corporate life event.

Let's talk

Jesse McWhorter

Jesse McWhorter

Partner

Jesse is a partner in Deloitte Tax LLP's National Multistate Tax Practice, leader of our National Multistate Credits and Incentives practice, and is part of the State Strategic Tax Review Subgroup in ... More

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