IRS Proposes Regulations for AMIC
With the implementation of the Advanced Manufacturing Investment Credit that aims to encourage production of semiconductors and semiconductor-manufacturing equipment, the IRS has proposed regulations to guide business owners who will benefit from the credit including partnerships and S corporations who can make elective payment elections to receive the credit. For specifics on how to qualify, please refer to the IRS resource on this matter: https://public-inspection.federalregister.gov/2023-12800.pdf. If you have any questions regarding these proposed regulations, reach out to us at 832-295-3353. We would love to help you.