Confusion with the Tax Bill Overhaul and the R&D Tax Credit

***Update*** As it turns out, the passage of the GOP’s tax bill, which President Trump signed into law on December 22, 2017, does, in fact, remove the corporate alternative minimum tax. This is a huge benefit for businesses claiming the R&D tax credit as they are no longer limited in using their tax credit due to AMT. We should begin seeing the implications in 2019. ======== Early Saturday (12/2/2017) morning, the Senate passed the new tax plan adjusting the corporate tax rate from 35% to 20%. There were many additional provisions in this bill, but one that stood out, interestingly, was that the Senate preserved the corporate alternative minimum tax (AMT) (instead of repealing it as proposed in the bills … Read More