U.S. Sen. Maggie Hassan of New Hampshire is among a bipartisan group of senators introducing a bill that would support research and development investments by innovative small businesses and startups. Right now, companies investing in research and development can either claim a tax credit or fully deduct their investments, which helps them to invest in developing new products. The new bill, called the American Innovation and Jobs Act, would double the refundable research and development credit and extend it to more startups and small businesses. It also would preemptively reverse a change in a tax law that’s set to go into effect next year that would limit companies from fully deducting the investments each year. See also
|
