R&D Tax Credit for Industrial Hemp

A new tax saving opportunity for hemp industries!

Research & Development in Industrial Hemp

The Hemp industry gained a tremendous growth opportunity with the passage of the 2018 Farm Bill and the effective legalization of hemp as an agricultural commodity. Hemp farmers and researchers are now free from the restrictions of IRC section 280(E) and able to cultivate hemp broadly, as well as freely engage in the sale, transport, or possession of hemp-derived products.

These legislative and economic changes have created the opportunity for this sector to claim eligible tax incentives, like the Research and Development (R&D) Tax Credit. 

Examples of R&D activity in Industrial Hemp

  • Cultivating new hemp varieties and characteristics
  • Developing new growing methods and procedures
  • Devising new or improved ways to process and harvest hemp
  • Experimenting to grow healthier, stronger, and better-quality plants
  • Developing and testing new filtration or irrigation systems
  • Testing new farming methods to increase crop yield
  • Testing new CBD oil products and extraction techniques
  • Designing and integrating new or improved processing equipment or systems

How we can help

Eligible farmers, researchers, manufacturers, and other businesses may be eligible to recapture some of their R&D expenditures by qualifying them for the federal Research & Development (R&D) Tax Credit, and eligible state R&D Tax Credits, to offset federal and state income tax liability.

Our qualified experts in Leyton’s agriculture team are motivated to properly qualify all R&D activities and expenses to fully substantiate each claim and ensure maximum financial benefits for our clients.

Let’s find out if your business qualifies for the R&D Tax Credit!

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