Nevada and the R&D Tax Credit

Nevada does not provide a state-specific Research and Development (R&D) tax credit, which means companies operating within the state are unable to claim a credit against state taxes for eligible R&D activities. However, Nevada is known for its prominent industries, such as tourism, hospitality, mining, logistics, and technology, all of which frequently pursue cutting-edge practices and technological progress. Even without a state R&D credit, businesses in these sectors may still qualify for the federal R&D tax credit, offering a substantial benefit for organizations investing in research and development.

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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 200 S Virginia St, Reno, Nevada provides R&D tax credit consulting and advisory services to Las Vegas, Henderson, Reno, North Las Vegas, Sparks, Carson City, Fernley, Elko, Mesquite and Boulder City.

If you have any questions or need further assistance, please call or email our local Nevada Partner on (775) 227-9237.
Feel free to book a quick teleconference with one of our Nevada 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.


R&D Tax Credit Training for NV CPAs

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R&D Tax Credit Training for NV CFPs

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R&D Tax Credit Training for NV SMBs

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Nevada Patent of the Year – 2024/2025

LedgerDomain LLC has been awarded the 2024/2025 Patent of the Year for their innovative approach to integrating machine learning with blockchain technology. Their invention, detailed in U.S. Patent No. 12028452, titled ‘Establishing a trained machine learning classifier in a blockchain network’, introduces a novel method for enhancing compliance and anomaly detection in regulated industries.

This patented system utilizes a neural network-enabled interface server within a blockchain network to detect and manage exception events in real-time. By applying multilayer convolution and pooling processors to training datasets, the system generates reduced-dimensionality images of drugs and exception events. These images are then used to train classifiers that can identify discrepancies and trigger appropriate remedial actions, all while maintaining the integrity and transparency inherent in blockchain technology.

LedgerDomain’s innovation addresses a critical need in sectors such as pharmaceuticals, where regulatory compliance and timely response to anomalies are paramount. By combining the secure, immutable nature of blockchain with the predictive capabilities of machine learning, this system offers a robust solution for monitoring and managing complex compliance requirements.

This advancement represents a significant step forward in the application of AI and blockchain technologies, providing industries with a powerful tool to enhance operational efficiency and regulatory adherence.


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Nevada Office 

Swanson Reed | Specialist R&D Tax Advisors
200 S Virginia St
Reno, NV 89501

 

Phone:  (775) 227-9237