[U.S. Treasury Department Plans to Issue New Rules Allowing Companies to Fully Utilize R&D Tax Credits]
The U.S. Treasury Department is preparing to release a corporate tax relief plan, which could be introduced as early as next week. The plan will allow companies like Salesforce and Qualcomm to fully utilize the R&D tax credits included in President Trump's tax law. The Treasury Department's proposal aims to address the issue during the Biden administration where the 15% minimum tax rate for companies with at least $1 billion in annual revenue prevented businesses from fully benefiting from R&D tax credits.