Lafayette R&D Tax Credit Explained for Businesses

R&D Tax Credits for Lafayette, Louisiana Businesses

Lafayette, Louisiana, thrives in industries such as healthcare, education, energy, and retail. Top companies in the city include Lafayette General Health, a major healthcare provider; the University of Louisiana at Lafayette, a key educational institution; Chevron, a prominent energy company; Walmart, a global retail giant; and Amazon, a global logistics and e-commerce company. The R&D Tax Credit can benefit these industries by reducing tax liabilities, fostering innovation, and improving business performance. By leveraging the R&D Tax Credit, companies can reinvest savings into advanced research boosting Lafayette’s economic growth.

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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 1615 Poydras Street, New Orleans, Louisiana is less than 140 miles away from Lafayette and provides R&D tax credit consulting and advisory services to Lafayette and the surrounding areas such as: New Iberia, Opelousas, Morgan City, Crowley and Youngsville.

If you have any questions or need further assistance, please call or email our local Louisiana Partner on (504) 584-8597.
Feel free to book a quick teleconference with one of our Louisiana R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.

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Lafayette, Louisiana Patent of the Year – 2024/2025

Swivel Rental & Supply, LLC. has been awarded the 2024/2025 Patent of the Year for its groundbreaking modular swivel stand apparatus. Their invention, detailed in U.S. Patent No. 11867000, titled ‘Swivel stand apparatus and associated equipment’, introduces a versatile system designed to enhance safety and efficiency in oilfield operations.

The patented apparatus features a modular design comprising interchangeable base structures and a basket assembly. This configuration allows for quick adaptation to various operational requirements, reducing downtime during equipment transitions. The inclusion of non-wheeled friction reducers, such as wear strips, facilitates smooth movement between components, minimizing wear and maintenance needs.

A notable innovation is the basket’s leg design, which ensures correct orientation during assembly by allowing connection to the base in only one configuration. This feature enhances safety by preventing improper setup. Additionally, the basket includes specially configured pipe racks for secure vertical storage of pipes or pipe joints, optimizing space and organization on-site.

The apparatus also incorporates a carriage system that supports a mast tower, which can be securely affixed and detached as needed. This flexibility enables operators to customize the setup for specific tasks, improving operational efficiency. Furthermore, the system includes various square plates designed to accommodate different equipment, such as jacks, enhancing the apparatus’s adaptability.

Headquartered in Lafayette, Louisiana, Swivel Rental & Supply, LLC. continues to lead in developing innovative solutions for the oil and gas industry. This latest patent exemplifies their commitment to advancing safety and efficiency in field operations.