ESOPs and 179d Tax Deduction
An architectural firm has changed its status to an ESOP. The firm designs a fair number of government projects and is interested in how can it take advantage of EPAct 179D as a system designer... Is this possible for an ESOP?
Author
September 4
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Answer:
Rob,
Unfortunately ESOP’s don’t pay federal income tax so they can’t take the deduction. If the legislation gets extended (it is currently set to expire at the end of this year) there is talk of this being addressed. There are several intents of the law that turned out to be unusable due to the corporate structure of design firms.
Thank you, sir. Hope you are well.
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