New York City R&D Tax Credit Explained for Businesses

R&D Tax Credits for New York City, New York Businesses

New York City, New York, is a global hub for industries such as finance, technology, healthcare, media, and tourism. Top companies in the city include JPMorgan Chase, a leading financial services company; Google, a major technology employer; NewYork-Presbyterian Hospital, a significant healthcare provider; WarnerMedia, a key player in the media sector; and the Statue of Liberty, a prominent tourism attraction. The Research and Development (R&D) Tax Credit can help these industries save on taxes by encouraging innovation and technological advancements.

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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 350 Northern Blvd, Albany, New York is less than 155 miles away from New York City and provides R&D tax credit consulting and advisory services to New York City and the surrounding areas such as: Hempstead, Brookhaven, Islip, Oyster Bay and Yonkers.

If you have any questions or need further assistance, please call or email our local New York Partner on (518) 801-0616.
Feel free to book a quick teleconference with one of our New York 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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New York City, New York Patent of the Year – 2024/2025

Siden Inc. has been awarded the 2024/2025 Patent of the Year for its innovative approach to optimizing network efficiency. Their invention, detailed in U.S. Patent No. 11997527, titled ‘Method and system for controlling the use of dormant capacity for distributing data’, introduces a system that leverages unused network capacity to deliver content more effectively.

This technology identifies periods when network resources are underutilized and uses these windows to distribute data to multiple devices. By doing so, it ensures that content delivery does not interfere with peak usage times, enhancing overall network performance. Devices receiving this data measure efficiency metrics, which are then communicated back to the service provider. This feedback loop allows for dynamic adjustments, ensuring optimal use of available resources.

The system also determines target throughput for each device based on network usage reports and the efficiency metrics received. This ensures that content delivery is tailored to current network conditions, maximizing efficiency and minimizing potential disruptions.

Siden Inc.’s innovation represents a significant advancement in data distribution strategies. By intelligently utilizing dormant network capacity, it offers a scalable solution to meet the growing demand for data without compromising service quality. This approach not only improves user experience but also provides network operators with a tool to manage resources more effectively.