The current administration, as part of its FY 2017 budget, recently issued the details of their revenue proposals, which include several ideas for expanding the Research and Development (R&D) Tax Credit. According to former Senior Counsel to the U.S. Senate Finance Committee and alliantgroup National Managing Director, Dean Zerbe, the proposals include several new and thoughtful ideas that could greatly expand the number of businesses eligible to take advantage of the credit.
In his latest article appearing in Forbes “R&D Tax Credit – Administration Proposes Key Expansion,” Zerbe breaks down the administration’s new proposals regarding the R&D Tax Credit. Among the most notable proposals include those removing the barriers for passive investors of pass-through companies, increasing the rate of the Alternative Simplified Credit (ASC) and further expansion of the recently passed AMT turn-off.
Contact us today for more information on the president’s budget, the R&D Tax Credit and what these proposals could potentially mean for your business.