S. 4822

American Innovation and Jobs Act

This bill revises and expands the deductibility of research and experimental expenditures to allow immediate expensing of such expenditures. It also allows the amortization over a period of at least 60 months of certain other types of research and experimental expenditures not treated as expenses.

The bill also increases the maximum amount eligible for the tax credit for new and small businesses and increases to 20% the rate of the credit for business startups.