Annual Revenue: $25 million Industry: Manufacturing/Cosmetics Ownership: Privately-owned C corp Number of Employees: 50 Location: Southern California Client Profile Issue A private label manufacturer serving cosmetic companies also develops products and formulations for its own product line. The company had built up a fairly large net operating loss carryforward before turning profitable. As the company was quickly depleting its NOLs, its tax preparation team sought to identify applicable tax credits and incentives to minimize its tax burden. Solution Our team reviewed tax returns, financial data, and performed interviews of company employees in a variety of departments, including production, compounding, sales, engineering, and management. We identified qualifying activities in pr

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