Memphis R&D Tax Credit Explained for Businesses

R&D Tax Credits for Memphis, Tennessee Businesses

Memphis, Tennessee, thrives in industries such as logistics, healthcare, education, manufacturing, and technology. Top companies in the city include FedEx, a leading logistics company; Baptist Memorial Health Care, a major healthcare provider; the University of Memphis, a significant educational institution; International Paper, a key player in the manufacturing sector; and AutoZone, a prominent technology company. The R&D Tax Credit can provide tax savings for these industries by incentivizing innovation and technological advancements. This allows businesses to reinvest in R&D contributing to Memphis’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 1910 Madison Avenue, Memphis, Tennessee provides R&D tax credit consulting and advisory services to Memphis and the surrounding areas such as: Bartlett, Southaven, Collierville, Germantown and West Memphis.

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.

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Memphis, Tennessee Patent of the Year – 2024/2025

HKC-US LLC has been awarded the 2024/2025 Patent of the Year for its innovative mobile utility solution. Their invention, detailed in U.S. Patent No. 11891099, titled ‘Fan cart’, introduces a multifunctional hand truck equipped with integrated cooling, lighting, and power features.

Designed to enhance productivity in various settings, this fan cart combines essential tools into a single, portable unit. It features a tiltable electric fan mounted at mid-frame, providing adjustable airflow to users. Above the fan, an LED light offers directional illumination, ensuring visibility in dim environments.

The cart includes a power strip with multiple outlets and USB ports, powered by a rechargeable battery or direct plug-in. This setup allows users to operate tools or charge devices on-site. Additionally, a storage tray offers convenient space for tools and supplies, keeping essentials within reach.

HKC-US LLC’s fan cart addresses the needs of professionals in construction, maintenance, and event setups, where mobility and access to power are crucial. By integrating cooling, lighting, and power supply into a single unit, it reduces the need for multiple pieces of equipment, streamlining operations and improving efficiency.

This innovation exemplifies HKC-US LLC’s commitment to developing practical solutions that meet real-world demands, reinforcing its position as a leader in utility equipment design.