NEC Urges the Senate to Pass American Innovation and Jobs Act
March 31, 2023
March 31, 2023
BOSTON, Massachusetts, March 31 (TNSgov) -- The New England Council issued the following news release and letter on March 30, 2023:
For years businesses have been allowed to fully deduct their R&D expenses in the same year because the tax code appreciated the importance of research and development. However, under a provision of the Tax Cuts and Jobs Act of 2017 that went into effect for the 2022 tax year, businesses must amortize or deduct these expenses over a period of years. . . .
For years businesses have been allowed to fully deduct their R&D expenses in the same year because the tax code appreciated the importance of research and development. However, under a provision of the Tax Cuts and Jobs Act of 2017 that went into effect for the 2022 tax year, businesses must amortize or deduct these expenses over a period of years. . . .