Statutory Tax Credits
Federal, state and local statutory tax credits are available to businesses based on
business activity conducted in existing company locations. Tax credits are typically
as of right, meaning any business activity relating to the tax credit will be eligible.
BlueCap utilizes a proven methodology to review existing client locations on a
historical basis to identify eligibility for federal, state and local tax credits. We
research all open tax periods for tax credit opportunities.
Many tax credit programs allow taxpayers to transfer unused tax credits to other
taxpayer(s) by statute. BlueCap is experienced in assisting clients with the transfer
of these tax credits.
BlueCap utilizes a three-phase approach to identifying and securing tax credits.
Phase I - Tax credit benefit analysis
• Review tax returns, capital plans, employment data
• Research potential tax credit opportunities
• Prepare tax credit benefit analysis
Phase II - Application and documentation
• Determine which tax credits provide the greatest value
• Prepare applications for submission to government agencies
• Prepare support documentation
Phase III - Monitor progress
• Develop a master tax credit calendar for annual review of eligiblity
• Review annual eligibility
• Review new tax credit programs for opportunities