Learn who we are and how we serve our community
Meet our leaders, trustees and team
Developing the next generation of talent
Covering the latest news and trends in the marketplaces industry
Check out wide-ranging resources that educate and inspire
Learn about the governmental initiatives we support
Connect with other professionals at a local, regional or national event
Find webinars from industry experts on the latest topics and trends
Grow your skills online, in a class or at an event with expert guidance
Access our Member Directory and connect with colleagues
Get recommended matches for new business partners
Find tools to support your education and professional development
Learn about how to join ICSC and the benefits of membership
Stay connected with ICSC and continue to receive membership benefits
The recently passed tax law was supposed to allow retailers and restaurants to immediately write off the cost of improvements and build-outs, instead of stretching the deductions over a decade. But that provision was accidentally left out of the final version. Worse, the omission and another error have resulted in a far higher tax burden.
Now retail and restaurant companies including Best Buy, Target and Yum Brands are lobbying Congress to fix the errors, reports The Dallas Morning News.
“We're treated far worse now than under the old law. It's really unfair”
"We're treated far worse now than under the old law," Rachelle Bernstein, tax counsel for the National Retail Federation, told the newspaper. "It's really unfair."
The industry has been lobbying to have the mistake fixed — usually a routine and swift procedure after passage of major legislation — since the law passed in December, but to no avail, the newspaper reports. Hopes are now pinned on attaching the tax-relief provision to a spending period at the end of September.
By Edmund Mander
Director, Editor-In-Chief/SCT
