Innovation is getting more expensive—and that should worry all of us. Until recently, businesses could deduct 100% of their R&D expenses in the same year they incurred those costs. But a tax law that took effect at the beginning of 2022 requires businesses to spread their deductions out over five years instead, driving up the cost of the innovations that keep our economy strong.
Original source: https://www.nam.org/why-rd-matters-to-international-paper-20572/