New U.S. tax bill singles out video game studios for tax hike
In proposed legislation aimed at reforming the U.S. tax code, a research and development credit would continue... for anything but "violent video games."
The House Ways and Means Committee has completed and submitted its tax bill -- The Tax Reform Act of 2014 -- and the Washington Examiner has picked up on an extremely strange and troubling bit of policy: Were it to become law, the R&D credit will exclude companies that make violent video games.
Despite promising "an improved, permanent R&D tax credit, finally giving American manufacturers the certainty they need to compete against their foreign competition who have long had permanent R&D incentives," the bill aims to purposefully exclude the video game industry -- despite the fact that U.S. companies face just such competition, notably from Canada.
In the list of what the bill purports to accomplish in its executive summary, "Preventing makers of violent video games from qualifying for the R&D tax credit" comes just after "Prohibiting tax deductions for costs incurred by illegal businesses."
http://www.gamasutra.com/view/news/211795/New_US_tax_bill_singles_out_video_game_studios_for_tax_hike.php
Ummm... What? Do they think this will prevent violent video games from being made? Convince American software companies not to make them?
Just. Plain. Stupid.
= new reply since forum marked as read
