The association wrote a letter last week to the House and Senate Leaders to voice its support of several of the provisions contained the Act, including the R&D credit, Section 179 expensing, and 15-year cost recovery for qualified leasehold improvements and retail improvements.
“Making the R&D tax credit permanent is not only a victory for the industry but also for millions of consumers who take supplements each and every day,” said Dr Dan Fabricant, NPA' Executive Director and CEO. “NPA commends House and Senate Leaders and all of the Members who voted for this important legislation and for recognizing the importance of investing in new research that will result in more options and safer products for consumers.
“These reforms and improvements to our tax code will provide the industry with the resources and capital it needs to manufacture more safe, affordable, and reliable supplements for consumers. This legislation will boost the supplement industry and the United States economy as a whole.
“Making Section 179 expensing and 15-year cost recovery for leasehold and retail improvements will increase the ability of the natural products industry to make important investments – investments that will generate increased economic growth, job creation and higher wages.”