Tennessee and the R&D Tax Credit

Tennessee does not offer a state-specific Research and Development (R&D) tax credit, meaning businesses operating within the state cannot claim a credit against state taxes for qualifying R&D activities. However, Tennessee is home to a variety of thriving industries, including automotive manufacturing, healthcare, music and entertainment, logistics, and advanced technology, all of which frequently engage in innovative practices and technological advancements. Despite the lack of a state R&D credit, businesses in these industries may still qualify for the federal R&D tax credit, which provides a significant incentive for companies investing in research and development.

The federal credit can help offset costs related to developing new products, processes, or technologies, making it a valuable resource for Tennessee-based businesses fostering innovation and progress in their respective fields.

Are you eligible?

R&D Tax Credit Eligibility AI Tool

Why choose us?

directive for LBI taxpayers

Pass an Audit?

directive for LBI taxpayers

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 1910 Madison Avenue, Memphis, Tennessee provides R&D tax credit consulting and advisory services to Nashville, Memphis, Knoxville, Chattanooga, Clarksville, Murfreesboro, Franklin, Jackson, Johnson City and Bartlett.

If you have any questions or need further assistance, please call or email our local Tennessee Partner on (901) 254-7002.
Feel free to book a quick teleconference with one of our Tennessee 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 TN CPAs

directive for LBI taxpayers

Upcoming Webinar

 

R&D Tax Credit Training for TN CFPs

bigstock Image of two young businessmen 521093561 300x200

Upcoming Webinar

 

R&D Tax Credit Training for TN SMBs

water tech

Upcoming Webinar

 


Tennessee Patent of the Year – 2024/2025

S2 Cognition Inc. has been awarded the 2024/2025 Patent of the Year for revolutionizing cognitive performance assessment. Their invention, detailed in U.S. Patent No. 12029479, titled ‘Methods and apparatus to measure fast-paced performance of people’, introduces a dynamic evaluation system that quantifies how individuals process information and make decisions in high-pressure, visually complex environments.

Unlike traditional cognitive tests, S2 Cognition’s patented system immerses users in interactive tasks designed to simulate real-world challenges. These tasks assess key cognitive skills such as visual perception, memory, learning, and command and control. For instance, users might be asked to track multiple moving targets or respond to rapidly changing stimuli, measuring their ability to react swiftly and accurately under pressure.

This technology has significant implications across various fields. In sports, it can help tailor training programs to enhance athletes’ in-game decision-making. In military and defense sectors, it offers a tool to evaluate personnel’s cognitive readiness in dynamic scenarios. Additionally, the system aids in monitoring recovery from concussions by assessing cognitive function over time.

By providing a comprehensive analysis of cognitive performance, S2 Cognition’s innovative approach sets a new standard for evaluating human capabilities in fast-paced environments, paving the way for more effective training and assessment methodologies.


Choose your state

find-us-map

Never miss a deadline again

directive for LBI taxpayers

Stay up to date on IRS processes

Discover R&D in your industry

Contact Us


Tennessee Office 

Swanson Reed | Specialist R&D Tax Advisors

1910 Madison Avenue
Suite 2045
Memphis, TN 38104

 

Phone: (901) 254-7002