Rix® (resource Information Xchange) Announces Rix® Biotech Module For Biotech R&d Tax Credits

May 12, 2010 - PRLog -- Seattle WA – RIX® Technology announces the release of the RIX® Biotech Module, a new Biotech Tax Credit module for the RIX® Technology application. RIX® Technology, an Internet based technology and service for documenting R&D activity for Research Tax Credits has released a module specifically for the new biotech credit, technically called the “Qualifying Therapeutic Discovery Project Credit.” The “RIX® Biotech Module” allows small to medium sized biotech companies to employ a RIX® implementation with moderate up front cost, and document R&D activity immediately.

“This is possible,” says Rick Humphrey, President of RIX® Technology, LLC, “because we have focused this module on the explicit needs of the biotech industry and specifically on the requirements of this new biotech R&D credit. It will significantly reduce the cost of documentation for smaller biotech companies, and as with all RIX® applications, expand their credit and insure proper documentation for maximum retention of credits on audit.”

The new RIX® Biotech Module is purchased as an online service. There is no software to install or maintain. It can be accessed from any computer, so there is no additional hardware requirement. The entire system is highly secure including encryption, password protection, restricted access by need-to-access levels, and specific hardware identification.

After a brief survey by a RIX® professional, and optimization of the user interface for the client, the RIX® Biotech Module is available to the client. Reporting of R&D activity and documentation uploads begin immediately for current activity. Prior 2009 and 2010 fiscal year activity can be backfilled into the RIX® system during the RIX® optimization process or at a later time.

The RIX® Biotech Module provides regular management reports including full to-date R&D tax credit calculations for rapid filing. This rapid filing capability is critical to companies desiring to be first in line for the $1billion available through the biotech R&D tax credit opportunity.

Companies interested in more information or a free quotation should contact Nick Vasilieff at 206 619 9666, nickv@rixtechnology.com. Additional information on RIX® Technology can be obtained at www.rixtechnology.com.

# # #

RIX® provides an exciting new online documentation service for taxpayers seeking federal and state R&D tax credits under Federal IRC §41. RIX® is a web-based technology and tax consultancy that simplies the process of obtaining Research Tax Credits.