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Tax

Make the U.S. Tax System Globally Competitive

SIA strongly supported the Tax Cuts and Jobs Act, passed by Congress and signed into law in late 2017. The U.S. tax code had put American companies at a distinct disadvantage, with a high statutory rate and outdated international provisions. The Tax Cuts and Jobs Act immediately instituted a globally competitive rate of 21 percent, preserved the research and development (R&D) tax credit, modernized international taxation and provided a lower effective tax rate, for foreign income derived from intellectual property such as patents. These important reforms significantly improve the competitiveness of U.S. semiconductor research, design and manufacturing.

The Department of Treasury and the Internal Revenue Service are tasked with promulgating regulations and issuing notices to implement the sweeping reforms enacted by statute. Legislation to make technical corrections to certain provisions in the tax bill is also expected in 2018.

Official Comments and Letters >

All Tax Resources >

Featured Tax Resources

Strengthening the U.S. Semiconductor Ecosystem through Targeted Tax Policy
U.S. Semiconductor Leadership: A Policy Platform
2019 Trade Association Letter on Tax Treaties to Chairman Risch
48%
The U.S. semiconductor industry is the worldwide leader with nearly half of global market share.
2M+
The industry directly employs over 307,000 people in the U.S. and supports more than 1.7 million additional U.S. jobs.
#5
Semiconductors are a top U.S. export after refined oil, crude oil, natural gas, and civilian aircraft.
1/5
The U.S. industry invests about one-fifth of revenue in R&D on average, among the most of any sector.

The Latest in Tax

SIA Commends Introduction of Bipartisan Legislation to Restore Immediate Deductibility of R&D Investments

Press Release : 03/17/23

New Report Identifies Challenges to Continued U.S. Leadership in Semiconductor Design, Innovation

Press Release : 11/30/22

Coalition Letter to Congress to Address R&D Expensing

Comments and Letters : 10/11/22
  • Learn more about Tax:

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