The Advanced Algorithm Perfected Over Two Years, Will Methodically Find Companies Left in the Dark
Global consultancy Leyton announced the launch of a new AI-powered algorithm that identifies thousands of businesses that may be eligible for the Research and Development (R&D) Tax Credit and not even know it.
“Our new AI-powered algorithm has allowed us to identify 250,000 companies who have a high probability of qualifying for R&D Tax Credits”
The R&D Tax Credit is a federal benefit providing businesses with cash savings for qualifying activities relating to product development and improvement. Annually, billions of dollars allocated to R&D-related tax credits are left unclaimed. The algorithm behind Leyton’s new system gives a probability of qualification across a broad number of sectors and industries, and a consultation to potential qualifying companies is complimentary.
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“Our new AI-powered algorithm has allowed us to identify 250,000 companies who have a high probability of qualifying for R&D Tax Credits,” said Olivier Rousselle, COO of Leyton Group. “Our goal is to help companies become aware and take advantage of these underutilized incentives.”
Leyton’s algorithm, for which a patent is currently pending, works through various techniques, including machine learning, to flag businesses that have the potential of utilizing R&D tax credits. Using a sophisticated scoring model, any business deemed noteworthy is flagged to Leyton to offer assistance in leveraging the tax benefit. What once was a process that could take potentially months of research, can now be accomplished in days. This allows for businesses to re-invest this new found capital into initiatives such as hiring new employees and funding projects that support their growth.
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The credit dates back to 1981, when it first became available to taxpayers on a temporary basis. In 2015, when the PATH Act was put in place, the R&D credit became permanent and with it, revised qualifications that greatly expanded the eligibility for businesses to qualify. Many businesses are unaware that their daily operations could qualify for a dollar-for-dollar tax credit, irrespective of industry or company size. Additionally, most states offer an R&D credit that can supplement the federal R&D credit, and qualifying businesses can claim both.
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