Missouri – Swanson Reed | Specialist R&D Tax Advisors

WarrCloud Secures $20M in Series B Funding

WarrCloud, a St. Louis – based tech firm, has raised $20 million in Series B funding. The round was led by Centana Growth Partners with participation from Argentum and Automotive Ventures.

WarrCloud has developed an automated warranty processing platform that fits seamlessly within their user’s systems. The new funding will expand their offering, using AI to further enhance warranty claims automation.

The company has had a big year, announcing partnerships with FordDirect, the Missouri Automobile Dealers Association (MADA), and American International Automobile Dealers Association (AIADA).

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Impossible Sensing Begins Field Testing of Soil Sensor

State of the art R&D center opens in Iowa

Impossible Sensing, a St.Louis startup, has officially launched field tests for their second-generation prototype sensor. The testing will take place at Reckamp Farms in Wright City, west of St. Louis.

Impossible Sensing is a space technology company focused on exploring every and all environments – from deep space to deep ocean. To achieve this, they create proprietary sensing technologies that gather data which could be used to mitigate climate change.

“This is the first time this goes to the real world,” said Pablo Sobron, who founded Impossible Sensing. “We tested it in the lab, in the backyard in the city, and now it’s coming to a farm.”

The tests on Thursday consisted of digging a hole a few inches deep and then firing a high-powered laser that can measure the specific soil conditions at around 30 different sites.

It’s different from how farmers typically test their soil by collecting samples every few acres, Sobron said. The level of granularity from his instrument can reveal variations in nutrient levels and soil conditions in the same field and could prove the catalyst to unlocking some of the loftiest goals of precision agriculture, he said.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

InnovaPrep Acquires Clara Biotech

InnovaPrep LLC has acquired the assets of Clara Biotech, a startup which made a name for itself by launching a first-of-its kind cancer detection in 2015.

InnovaPrep is a local leader in the biotech industry. Their detection tech focuses on biological sample collection, concentration, and preparation. The company has commercialized a collection of market-disruptive platform technologies for rapid, automated concentration of biological particles.

The acquisition will support InnovaPrep as they begin development and experimentation in a very niche field – exosomes. Clara Biotech’s technology and team are experts in exosome isolation and preparation and will support InnovaPrep to step boldly into the niche field, with a ready to go team.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

St. Louis’ Startup, Eiwa, Closed a Successful Series A Funding

Eiwa, a St. Louis-based AgTech startup, has closed on a Series A funding round led by Serra Ventures. While the company did not disclose the amount raised in the funding round, a regulatory document it filed March 6 with the U.S. Securities and Exchange Commission showed the company has raised $1.6 million in equity financing.

Eiwa is working to streamline and improve the agricultural industry via digitization. Following the initial process of meeting and conversing with farmers across the globe, the company began developing a platform and algorithms to improve data acquisition, analytics, and visualization for seed breeders. Following this first push, the company has made an impressive mark, managing over 70% of all soybean breeding plots in the 3 main geographies: Argentina, Brazil, and the USA.

The company then expanded their expertise, bringing in functionalities which targeted Breeding, Crop Protection, Crop Nutrition, Marketing, and Sales and launched their proprietary solution: Eiwa Vault. This platform combines technology, images and data, enabling field information and data knowledge management in a simple and reliable framework focused on faster product development cycles and accelerated market deployment of Farm Inputs.

This commitment to innovation continues to drive the company. The latest round of funding will be directed towards funding both continued development and scaling the product on the market.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Missouri Enacts R&D Credit to Start in 2023

Missouri companies that conduct research and development can look forward to a new tax credit which will be available starting in 2023. Taxpayers may be authorized to receive this credit against the Missouri corporate income tax and financial institutions tax equal to 15% of their “additional qualified research expenses”.

This is exciting news for the state, who has not had an R&D credit since the 2004 tax year. This news signals a positive trend for businesses and investment in the state. We are still waiting on guidance from the Director pertaining to the application manner.

Here is everything you need to know:

For tax years beginning on or after January 1, 2023, taxpayer’s may be authorized to receive a tax credit against the corporate income tax or financial institutions tax
The credit will be equal to 15% of their additional qualified research expenses
The credit may be increased to 20% if the expenses relate to research conducted in conjunction with a public or private Missouri college or university
Additional qualified research expenses refers to the difference between qualified research expenses, as certified by the Director, incurred in a tax year subtracted by the average of the taxpayer’s qualified research expenses incurred in the three immediately preceding tax years
“Qualified research expenses” has the same meaning as provided in IRC Sec. 41
12-year carryover
- If the credit amount exceeds a taxpayer’s tax liability, the excess may be carried forward for the next 12 succeeding years
Transferable credits
- Up to 100% of the credit may be transferred, sold, or assigned by filing a notarized endorsement thereof with the Department that names the transferee, the amount of tax credit transferred, and the value received for the credit, as well as any other information reasonably requested by the Department
Flow-through treatment
- For a taxpayer with flow-through tax treatment to its members, partners, or shareholders, the tax credit shall be allowed to members, partners, or shareholders in proportion to their share of ownership on the last day of the taxpayer’s tax period.
Three-year limitation
- A taxpayer’s credit may not exceed 200% of its average qualified research expenses incurred during the three immediately preceding tax years
Limits
- The highest amount of credit a single taxpayer may claim in one year is $300,000
- The aggregate of all tax credits shall not exceed $10 million in any year
- $5 million of such amount is reserved first for minority-owned, women-owned, and small businesses
- In the event that total eligible claims for credits received in a calendar year exceed the annual cap, each eligible claimant shall be issued credits based upon a pro-rata basis, given that all new businesses, defined as a business less than five years old, are issued full tax credits first
Sales tax exemption
- Purchases of Missouri qualified research and development equipment are exempt from all state and local sales and use tax

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Vitti Labs Announces FDA Approval for Phase II IND Clinical Trial

Vitti Labs LLC, a research and development tissue bank, has announced FDA approval of their Phase II investigational new drug (IND) clinical trial. With this approval, they can move forward with a Phase II Outpatient Clinical Trial using a combination of Umbilical Cord Mesenchymal Stem Cells and Mesenchymal Stem Cell Exosomes to treat Pulmonary Fibrosis secondary to COVID-19.

COVID-19 commonly results in the presence of one of two respiratory manifestations. The first manifestation is a significant reduction in the diffusing capacity of the lungs (FLCO). The second is associated pulmonary interstitial damage. Even a full year after a recovery from COVID-19, the incidence rate of impaired DLCO and persistent lung damage is still over 30%. These persistent complications have caused substantial population morbidity, long-term disability, and even death due to the fibrotic lung progression.

With this study, Vitti Labs believes they will be able to move forward with much needed treatment modalities for these and other respiratory and pulmonary diseases. Vitti Labs is the first to bring a Phase II trial for this treatment using these therapeutics.

The company harvests biomaterials from the umbilical cord and placenta, using their properties to activate and support the repair of the body. They harvest through the bio-ethically donation of birth tissue from healthy and consenting mothers across the United States.

Are you developing new pharmaceuticals for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Pluton Furthers Understanding of Bacteria Capable of Killing Mosquitoes

Louisiana Patent of the Month - August 2021

Pluton Biosciences has recently announced their participation in the Wells Fargo Innovation Incubator (IN2) program has generated a deeper understanding of how three novel bacteria work to kill disease-carrying mosquitoes. One of these is a larvicidal bacteria capable of killing the disease-carrying Aedes aegypti mosquito.

This Missouri-based company was founded in 2017 and is composed of a team of talented scientists, entrepreneurs, and technologists. They explore the diverse world of microorganisms in an effort to develop clean, eco-friendly products for carbon sequestration, agriculture, pharmaceuticals, biomaterials, and bioremediation. They developed a proprietary platform called the Micromining ® Innovation Engine which helps their scientists discover microbes with novel activities in only a few months.

During their time in IN2’s seventh cohort, they performed R&D activities at the Donald Danforth Plant Science Center in St. Louis. With Danforth’s biochemistry expertise, Pluton’s researchers have unraveled the chemistry behind three novel bioinsecticides discovered back in 2017. Previous developments by Pluton include microbes that have the potential to save crops, kill pests, reduce diseases, and even break down plastic waste.

In addition to working in the IN2 cohort, Pluton received $250,000 in technical assistance to further research into these three novel bacteria. This also came with access to state-of-the-art expertise and resources in the Danforth Center. Between funding and technology, pluton has doubled down on their research and intends to continue working with these novel bacteria characteristics.

Are you developing new biotechnology for a new application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

BTO Announces $3.8M in SBIR Funding

Energy Americas, LLC. was the recipient of the Building Technologies Office’s (BTO) Small Business Innovation Research (SBIR) Phase I grant. Energy Americas qualified for this funding under Topic 12D: Advanced Building Control Systems for Controlled Environment Agriculture (CEA).

Missouri-based Energy Americas will use the funding to develop a smart climate control system capable of maintaining a stable and high-quality environment for indoor poultry farms. The goal being to allow farmers to raise chickens in a clean and healthy environment while reducing their heating fuel consumption by approximately 50%.

The BTO recently announced they will invest another $3.6 million in 21 projects across 14 states. These grants are awarded to companies whose projects have potential for commercialization. The grants help fund the R&D needed to realize these projects and allow companies to explore their technological potential. The Department of Energy funds these grants in an effort to support the development of clean energy technologies and a clean energy workforce.

Are you developing new software for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Xona Space Systems Selected by NGA Accelerator

The National Geospatial-Intelligence Agency (NGA) Accelerator has selected their companies for its geospatial corporate accelerator program. Eight companies out of 350 applicants will move forward to the St. Louis based cohort – a 13 week program which uses startup technology to help solve geospatial challenges.

Xona Space Systems, a Missouri based startup, was one of the selected 8. As such, they are set to receive a $100,000 grant, mentoring, and coaching from experts in the NGA. This startup is focused on building a next-gen satellite navigation system. They intend to create a constellation of low-Earth orbit satellites to provide secure navigation and timing services. The accelerator will connect startups like Xona Space Systems, with unique opportunities and funding and provide the NGA with access to innovative geospatial technology.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

SteadyMD Listed as One of 2021’s Finest Healthcare Startups

2021 was off to a rocky start for most people. We’re still riding the pandemic wave and even though vaccinations are in most countries now, we still don’t know when things will be safe. But Missouri startup, SteadyMD might be able to help those who are nervous about their health after one of the most traumatic healthcare years in a long time. SteadyMD will help you find a physician who will help you with more than just your healthcare needs. Finding a doctor can be hard and finding a doctor who you feel comfortable with is even harder.

SteadyMD doesn’t see doctors as just another person, they see them as your long-term health partner. That’s why your SteadyMD doctor only sees a select number of people, so that they can fully meet your needs as an individual patient. For instance, if you It’s important that you connect with your doctor and have a good relationship with him or her, that’s why SteadyMD wants to match you with a doctor who shares specific experiences with you. For example, if you are transgender, SteadyMD might connect you with a transgender doctor.

Are you developing new software? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.