Oil & Gas – Drilling Equipment
A company specializing in power sections for drilling applications located in Texas engaged McGuire Sponsel to conduct a four-year R&D Credit study. The company employs a team of engineers, designers, chemists, and other technical personnel.
After efficient on-site field work and analysis of financial data and project documentation, McGuire Sponsel was able to identify qualified research expenditures that continually increased year after year. The company was able to claim a significant amount of supply costs used in testing and developing various prototypes and manufacturing processes. This resulted in a federal tax credits totaling in excess of $540,000 for the four-year period.