Congress Makes R&D Tax Credit Permanent


OMA Connections Partner, Tax Credit Group, reported that after more than three decades of year-to-year uncertainty, Congress has made the R&D tax credit permanent as the result of passage of the Protecting Americans from Tax Hikes (PATH) Act of 2015. The congressional deal also brings back the concept of an “AMT turnoff” which allows small businesses to take the R&D tax credit against their alternative minimum tax liability.