Earlier today, Congress reached a deal on tax extenders legislation that would not only extend over 50 expiring provisions of the tax code, but would expand and make permanent the Research and Development (R&D) Tax Credit.
In his latest article from Forbes “R&D Tax Credit and Small Business – Tax Deal Changes Everything,” former Senior Counsel to the U.S. Senate Finance Committee and alliantgroup National Managing Director, Dean Zerbe, covers the various pro-business changes to the R&D Tax Credit as a result of the extenders package. Along with finally making the credit a permanent fixture of the tax code, the new legislation removes the AMT bar—the single greatest barrier preventing companies from taking advantage of the credit in the past—and includes a key provision that will open the credit up for start-ups. Combined together, the changes have greatly expanded and strengthened what was already one of the most generous tax credits for eligible U.S. businesses.
Contact us today for more information on the R&D Tax Credit, 179D and other recently extended tax incentives and how this new legislation could positively impact your business.
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