By SEMA Washington, D.C., Staff

The U.S. House of Representatives passed a tax cut package that would make several SEMA-supported tax credits permanent rather than extending them for one or two years, often retroactively.  The Senate is also expected to pass the bill, which includes the following provisions:

• Permanently extend the research and development (R&D) tax credit.
• Permanently extend the Section 179 deduction limits allowing smaller companies to write off their capital investments up to $500,000 in the year the purchases were made with a $2 million cap on annual investments, and indexed for inflation.
• Permanently allow businesses to deduct the cost of investments made to leased property and retail space over 15 years in an equal amount each year.
• Extend through 2016 the 7-year recovery period for motorsports entertainment complexes.
• Renew but gradually decrease the bonus depreciation for investments in capital equipment made through 2019.  The bill extends the 50% bonus depreciation through the end of 2017.  Thereafter, the bill provides for 40% depreciation in 2018 and 30% depreciation in 2019.

For further information, contact Eric Snyder at erics@sema.org.

By SEMA Washington, D.C., Staff

The U.S. House of Representatives passed a tax cut package that would make several SEMA-supported tax credits permanent rather than extending them for one or two years, often retroactively.  The Senate is also expected to pass the bill, which includes the following provisions:

• Permanently extend the research and development (R&D) tax credit.
• Permanently extend the Section 179 deduction limits allowing smaller companies to write off their capital investments up to $500,000 in the year the purchases were made with a $2 million cap on annual investments, and indexed for inflation.
• Permanently allow businesses to deduct the cost of investments made to leased property and retail space over 15 years in an equal amount each year.
• Extend through 2016 the 7-year recovery period for motorsports entertainment complexes.
• Renew but gradually decrease the bonus depreciation for investments in capital equipment made through 2019.  The bill extends the 50% bonus depreciation through the end of 2017.  Thereafter, the bill provides for 40% depreciation in 2018 and 30% depreciation in 2019.

For further information, contact Eric Snyder at erics@sema.org.

By SEMA Washington, D.C., Staff

The U.S. House of Representatives passed a tax cut package that would make several SEMA-supported tax credits permanent rather than extending them for one or two years, often retroactively.  The Senate is also expected to pass the bill, which includes the following provisions:

• Permanently extend the research and development (R&D) tax credit.
• Permanently extend the Section 179 deduction limits allowing smaller companies to write off their capital investments up to $500,000 in the year the purchases were made with a $2 million cap on annual investments, and indexed for inflation.
• Permanently allow businesses to deduct the cost of investments made to leased property and retail space over 15 years in an equal amount each year.
• Extend through 2016 the 7-year recovery period for motorsports entertainment complexes.
• Renew but gradually decrease the bonus depreciation for investments in capital equipment made through 2019.  The bill extends the 50% bonus depreciation through the end of 2017.  Thereafter, the bill provides for 40% depreciation in 2018 and 30% depreciation in 2019.

For further information, contact Eric Snyder at erics@sema.org.

By SEMA Editors

SEMA News annually canvasses the leaders of the association’s councils and networks for the December issue to seek their views about how the industry is shaping up for the coming year. The chairs of each group provide responses based on what their organizations and their companies are seeing within their marketplaces. Their responses provide helpful insights for businesses in every segment of the marketplace.

By SEMA Editors

SEMA News annually canvasses the leaders of the association’s councils and networks for the December issue to seek their views about how the industry is shaping up for the coming year. The chairs of each group provide responses based on what their organizations and their companies are seeing within their marketplaces. Their responses provide helpful insights for businesses in every segment of the marketplace.

By SEMA Editors

SEMA News annually canvasses the leaders of the association’s councils and networks for the December issue to seek their views about how the industry is shaping up for the coming year. The chairs of each group provide responses based on what their organizations and their companies are seeing within their marketplaces. Their responses provide helpful insights for businesses in every segment of the marketplace.

By SEMA Editors

SEMA News annually canvasses the leaders of the association’s councils and networks for the December issue to seek their views about how the industry is shaping up for the coming year. The chairs of each group provide responses based on what their organizations and their companies are seeing within their marketplaces. Their responses provide helpful insights for businesses in every segment of the marketplace.

By SEMA Editors

SEMA News annually canvasses the leaders of the association’s councils and networks for the December issue to seek their views about how the industry is shaping up for the coming year. The chairs of each group provide responses based on what their organizations and their companies are seeing within their marketplaces. Their responses provide helpful insights for businesses in every segment of the marketplace.

By SEMA Editors

SEMA News annually canvasses the leaders of the association’s councils and networks for the December issue to seek their views about how the industry is shaping up for the coming year. The chairs of each group provide responses based on what their organizations and their companies are seeing within their marketplaces. Their responses provide helpful insights for businesses in every segment of the marketplace.

By SEMA Editors

SEMA News annually canvasses the leaders of the association’s councils and networks for the December issue to seek their views about how the industry is shaping up for the coming year. The chairs of each group provide responses based on what their organizations and their companies are seeing within their marketplaces. Their responses provide helpful insights for businesses in every segment of the marketplace.