Jan 03, 2013
CompTIA Commends Congress for Addressing Tax Provisions in Budget, Urges Continued Support For Policies That Spur Growth in IT Sector
WASHINGTON, DC – January 3, 2013 – The following statement regarding H.R. 8, the “American Taxpayer Relief Act of 2012,” can be attributed to CompTIA President and Chief Executive Officer Todd Thibodeaux.
“We applaud Congress for addressing key tax issues for small businesses and avoiding the disastrous consequences that would have arisen out of a failure to meet the fiscal cliff deadline. Several of the provisions contained within the American Taxpayer Relief Act of 2012 have salutary impacts for the small and medium sized technology firm.
“Specifically, CompTIA supported the extension of the Section 179 expensing limitation,which extended the $500,000 limitation retroactively to 2012 and through 2013. Section 179 expensing allows small business to deduct the cost of certain asset purchases, enabling businesses to invest in technologies that improve both productivity and the quality of goods and services.
“Similarly, we supported the extension of the R&D tax credit, which also was retroactively renewed for 2012 and extended through 2013. These tax credits provide a critical financial boost to small businesses in innovative sectors like technology.
“Another key provision CompTIA supported is the extension of bonus depreciation, which will allow businesses to write-off additional depreciation on assets purchased and placed into service before 2014.
“To help encourage investment in start-up businesses, CompTIA supported the extension of the capital gains exclusion on 100 percent of capital gain from the sale of certain small business stock held for more than five years. This provision will now apply to stock purchased in 2012, through 2013.
“CompTIA urges the President, Congress and the Senate to pivot to the important issue of broader tax reform and to continue to prioritize tax policies that stimulate growth in the small business technology sector. As Washington continues to set the direction for economic growth, policymakers should make every effort to maintain support for small and medium sized tech companies.”
CompTIA is the voice of the world’s information technology (IT) industry. Its members are the companies at the forefront of innovation; and the professionals responsible for maximizing the benefits organizations receive from their investments in technology. CompTIA is dedicated to advancing industry growth through its educational programs, market research, networking events, professional certifications, and public policy advocacy. Visit http://www.comptia.org/home.aspx or follow CompTIA at http://www.facebook.com/CompTIA and twitter.com/comptia.
The Harbour Group