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Regulations in Relation to Small Businesses (view source)
Revision as of 17:42, 8 February 2016
, 17:42, 8 February 2016no edit summary
====Prevents Tax Increases====
*Provides small business tax relief, including increased small business expensing (Section 124)[http://www.section179.org/summary-of-the-path-act-of-2015.pdf (PATH)]
**Permanently extends the small business expensing limitation and phase-out amounts
**Expensing limitation increases from 25,000 to 500,000
**Phase-out amounts increase from 200,000 to 2 million
*Offers incentives for innovation, including the research and development tax credit (Section 121)[http://www.section179.org/summary-of-the-path-act-of-2015.pdf (PATH)]
**Permanently extends the R&D tax credit
**Eligible small businesses (<$50 million in gross receipts) can claim the credit against AMT liability, and the credit can also be used by certain small businesses against the employer’s payroll tax liability
