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House Presents Tax Reform Bill Including Multiple Business Provisions

Withum

In addition, the House provision does not make this change permanent, but rather extends the immediate deduction of domestic R&E expenses to December 31, 2029. Therefore, businesses such as manufacturing, auto dealerships and real estate will be able to avoid their PTET payments being capped at $30,000.

Tax 122
article thumbnail

House Presents Tax Bill Including Multiple Business Provisions

Withum

In addition, the House provision does not make this change permanent, but rather extends the immediate deduction of domestic R&E expenses to December 31, 2029. Therefore, businesses such as manufacturing, auto dealerships and real estate will be able to avoid their PTET payments being capped at $30,000.

Tax 96