Suffolk R&D Tax Credit Explained for Businesses

R&D Tax Credits for Suffolk, Virginia Businesses

Suffolk, Virginia, thrives in industries such as healthcare, education, manufacturing, retail, and technology. Top companies in the city include Sentara Obici Hospital, a leading healthcare provider; Paul D. Camp Community College, a major educational institution; Planters Peanuts, a significant manufacturing employer; the Harbour View Town Center, a key player in the retail sector; and Amerigroup, a prominent technology company. The R&D Tax Credit can provide tax savings for these industries by incentivizing 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 919 East Main Street, Richmond, Virginia is less than 85 miles away from Suffolk and provides R&D tax credit consulting and advisory services to Suffolk and the surrounding areas such as: Virginia Beach, Chesapeake, Norfolk, Newport News and Hampton.

If you have any questions or need further assistance, please call or email our local Virginia Partner on (804) 773-3219.
Feel free to book a quick teleconference with one of our Virginia 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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Suffolk, Virginia Patent of the Year – 2024/2025

Nasoni LLC has been awarded the 2024/2025 Patent of the Year for its innovation in smart faucet technology. Their invention, detailed in U.S. Patent No. 12146305, titled ‘Smart multipurpose fountain faucet’, introduces an intelligent faucet system that adapts to user preferences through sensor inputs and machine learning algorithms.

This advanced faucet features multiple water outlets, including a traditional downward flow and an upward fountain stream. Equipped with sensors such as proximity detectors and facial recognition, the system interprets user intent to deliver water through the appropriate outlet, adjusting parameters like temperature, flow angle, and duration accordingly.

By learning from user interactions, the faucet personalizes its responses over time, enhancing convenience and accessibility. This is particularly beneficial for individuals with mobility challenges, as it reduces the need for manual adjustments. Additionally, the fountain mode promotes water conservation by using significantly less water than conventional faucets.

Nasoni’s smart faucet not only offers a modern solution for everyday hygiene but also aligns with sustainable practices. Its design reflects a commitment to improving daily routines while addressing environmental concerns, marking a significant advancement in bathroom fixture technology.