CBSA and our partners at BIO urge you to act now! Encourage members of Congress to pass a tax package before the end of January that includes restoration of immediate R&D expensing to protect our innovation economy.
Current law requires U.S. businesses to amortize R&D expenses over multiple years, which takes resources away from small, R&D-intensive companies as they seek to develop new treatments, cures, and discoveries. BIO is urging Congress to advance strong bipartisan support to reverse this policy threatening biotech innovation.
Use this custom email link to encourage your members of Congress to pass this critical legislation.
The Problem: The 2017 Tax Cuts and Jobs Act (TCJA) modified Section 174 of the Internal Revenue Code so that, beginning in 2022, businesses could no longer deduct “research and experimentation” expenses in the same taxable year. Instead, businesses must amortize R&D expenses over…
Click here to view original post
Click Here to Publish/Feature Your Company or Product News with Biotech Networks
