Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Experts tell Vermont committee reversing section 174 would ease tax pain for grant-funded firms
Summary
CPAs and business groups told the Ways and Means Committee that HR1's reversal of the TCJA-era section 174 capitalization would restore immediate R&D expensing and reduce cash-flow and borrowing needs for firms that rely on research grants and project-based engineering work.
Tax experts and business advocates told the Ways and Means Committee on Feb. 5 that restoring immediate expensing for research and development costs could materially improve cash flow for companies that rely on grants or make heavy R&D investments.
"HR 1 essentially reverses this section 174 capitalization and says that we're allowed to go back to the rules for federal purposes that, allow immediate expensing of R and D expenditure," said…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
