The Protecting Americans from Tax Hikes Act (“The Act”) was signed into law by the President on December 18, 2015. The Act includes a number of significant tax changes. Some of the more important changes effective after December 31, 2014, (unless indicated) are as follows:
• R&D Credit – The Act retroactively and permanently extends the research credit. No changes were made to the calculation method of the R&D credit.
• R&D Credit – Offset against Alternative Minimum Tax (AMT). The Act provides that the R&D credit can be claimed against an AMT offset for an eligible small business (ESB), which is …read more
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