Création d’emploi et maintien de l’activité des entreprises aux U.S.A. : un nouveau crédit d’impôt pour 2023.
A new tax credit is planned for 2023 to encourage the creation and maintenance of businesses in the United States. This tax credit is included in the Biden administration’s budget bill.
ELIGIBLE EXPENSES FOR THIS TAX CREDIT
The Biden administration plans to create a 10% tax credit for certain eligible expenses paid and/or incurred by your business.
Only a U.S. company can file a tax credit application. However, expenses eligible for this credit can be incurred by a related foreign company. These expenses must be part of a specific strategy:
- Reduce or eliminate an activity you currently conduct outside the United States of America , and
- To start, develop or repatriate this same activity to the American territory and create jobs there.
PROMOTING EMPLOYMENT ON AMERICAN SOIL
This new measure would encourage the repatriation and development of businesses in the United States. Several complementary measures are therefore planned. These concern the reduction of tax benefits related to the transfer of jobs outside the United States. The following deductions would therefore be eliminated:
- Fees paid or expenses incurred by businesses for the purpose of reducing or eliminating a business you currently carry on in the United States, transferring it abroad, and eliminating jobs there.
- US shareholder’s GILTI or subpart F income inclusions of expenses paid or incurred to transfer a business activity outside the United States of America.
Congress must vote on these measures before they become law. However, the legislative process is at a standstill. And many are wondering if lawmakers will even be able to pass any tax legislation in 2022.