The immediate expensing provision enacted last year in the U.S. as part of the Tax Cuts and Jobs Act has the potential to boost purchasing activity at NPE2018: The Plastics Show, according to the Plastics Industry Association (PLASTICS).
“Every three years NPE: The Plastics Show both reflects the plastics market’s mood and has an impact on the market itself. The business activity that starts on the trade show floor eventually ripples out into new purchases in the weeks and months that follow,” says PLASTICS President & CEO William R. Carteaux. “This year, those weeks and months will be busy for NPE exhibitors, in a good way, thanks in part to the tax bill’s immediate expensing provision.”
The full and immediate capital expensing provision, enacted in the U.S. late last year, allows American companies to write off 100% of the cost of capital equipment purchases made between September 27, 2017 and January 1, 2023. Much of the cutting-edge technology on display at NPE qualifies as capital equipment, meaning this provision could greatly influence buying decisions on the trade show floor.
“NPE: The Plastics Show is where companies debut their latest innovations and where new technologies emerge for the whole industry to see,” says PLASTICS Vice President of Trade Shows & Marketing Susan Krys. “The manufacturing equipment of tomorrow will be operating at full capacity on the NPE trade show floor, and companies looking to invest in future growth will find no shortage of ways they can put this new tax break to good use expanding their business and driving the industry forward.”