GOP Tax Proposal Would Nix R&D Credit For Software

Law360, New York (February 27, 2014, 8:06 PM EST) -- A proposed change to U.S. tax law released Wednesday by House Republicans would prevent companies from claiming the popular research and development tax credit for computer software.

The GOP proposal eliminates the R&D credit with respect to research related to computer software-related projects, according to an analysis by the Joint Committee on Taxation. The Republican plan also would make the R&D credit a permanent fixture of the Internal Revenue Code — a change long sought by U.S. businesses.

The Republican plan would repeal the R&D credit...
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