Big news for agriculture innovators: On Feb. 3, the U.S. Tax Court ruled in George v. Commissioner that research to improve poultry health, disease resistance and growth rates qualifies for the research and development (R&D) tax credit under Section 41 of the Internal Revenue Code. This marks the first time animal agriculture has been formally recognized as eligible for R&D credits. In general, agribusinesses can qualify for these credits by increasing research to develop new ways to boost crop yields or improve animal performance. The decision affirms that eligible agribusinesses are entitled to claim the R&D credit, on par with other innovation-driven industries.
Our Blog 