More Good News for the R&D Tax Credit

OMA Connections Partner, Tax Credits Group, posted that: “The recent wave of favorable developments for the R&D tax credit continued earlier this month as a new bill, H.R. 5187, was introduced and referred to the Committee on Ways and Means to increase the Alternative Simplified Credit (ASC) rate from 14% to 20%.

“This bill follows on the heels of the PATH Act of 2015 which granted the R&D tax credit permanent status, after thirty-plus years as a temporary incentive, and introduced several other changes allowing small to mid-size businesses to utilize the credit against Alternative Minimum Tax (AMT) or payroll taxes.”