Virginia R&D Expenses + Major R&D Tax Credit
Supports Virginia innovation credits to help small businesses invest in laboratory upgrades.
Virginia's R&D tax credits (the refundable R&D Expenses Tax Credit at 15% of first $300K qualifying expenses, and the Major R&D Credit at 10% of qualifying expenses over $5M base) have both expired and are no longer available to new applicants. The R&D Expenses Tax Credit sunset on December 31, 2024; the Major R&D Credit appears on the Expired/Repealed list with carryover-only status. Virginia has effectively withdrawn from the R&D tax credit business. Businesses with qualifying carryover amounts may continue claiming against prior tax years only.
Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.