The Research & Development Tax Credit
Enacted in 1981, the now permanent Federal Research and Development (R&D) Tax Credit allows a credit that typically ranges from 4%-7% of eligible spending for new and improved products and processes. Qualified research must meet the following four criteria:
- Must be technological in nature
- Must be a component of the taxpayer’s business
- Must represent R&D in the experimental sense and generally includes all such costs related to the development or improvement of a product or process
- Must eliminate uncertainty through a process of experimentation that considers one or more alternatives
Eligible costs include US employee wages, cost of supplies consumed in the R&D process, cost of pre-production testing, US contract research expenses, and certain costs associated with developing a patent.
On December 18, 2015, President Obama signed the PATH Act, making the R&D Tax Credit permanent. Beginning in 2016, the R&D credit can be used to offset Alternative Minimum tax for companies with revenue below $50MM and for the first time, startup businesses can obtain up to $250,000 per year in payroll taxes and cash rebates.
STANLEY+Techstars Additive Manufacturing Accelerator
As an innovative company, Stanley Black & Decker is interested in incorporating more 3D printing in their production process than they already do. The Additive Manufacturing Accelerator will expose them to the best new 3D printing startups within Techstars’ global network. Stanley Black & Decker hopes to form partnerships with the right startups and continue working together after the program.
3D Printing Projects
The engineers at Stanley Black & Decker had to redesign the actuator housing, in a less-is-more fashion, from a two-piece part with fasteners into a unibody printed part. When the 3D printed actuator housing was tested, an analysis determined that the part was both more durable and lighter, not to mention it being 12.5 times less expensive, than the original one.
By openly sharing the specifications of their 3D printing products as well as the economics of them, Stanley Black & Decker is further influencing the manufacturing industry by showing the true benefits of 3D printing. Smaller companies see that this manufacturing giant is utilizing the technology and can look into how 3D printing can fit into their business for their own benefit as well.
Stanley Model 1 3D Printer
Not only does Stanley Black & Decker support 3D printing startups and 3D print their own products, but they also have their very own 3D printer. The Stanley Model 1 3D Printer was created in partnership with the South Korean machinery company Sindoh, and released in 2017. It is designed as a desktop printer for both beginners and experienced users with user-friendly features for safety, quality, and reliability.
Conclusion
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Charles Goulding and Rafaella July of R&D Tax Savers discuss Stanley Black & Decker.