In a letter today addressed to all members of Congress, the National Restaurant Association called on legislators to extend the Work Opportunity Tax Credit (WOTC) program and a 15-year depreciation allowance for certain kinds of assets important to the restaurant industry.
The letter, signed by Scott DeFife, Executive Vice President, Policy and Government Affairs, begins with the following statement.
On behalf of the National Restaurant Association, I am writing to strongly urge Congress to prospectively and retroactively extend tax provisions that expired at the end of 2011. Two particular provisions of significance to the restaurant industry are: 15-year depreciation for restaurants and the Work Opportunity Tax Credit (WOTC). We urge consideration of these measures as part of the discussions on extending through 2012 the payroll-tax reduction that expires at the end of this month.
Read the entire letter here.
Stay tuned. There is more to come about the ongoing House-Senate conference currently seeking an agreement on extending the 2011 payroll-tax cut. It’s not just the National Restaurant Association that is urging legislators to address WOTC and other tax extenders with this bill.