
“It is important to note that there are many Plan Sponsors who will not be affected by this change because they are not subject to a corporate tax,” says Jayne Brown, RDS Services’ Program Director. “These Plan Sponsors include state and local government
Troy, Michigan (PRWEB) November 16, 2012
Please click here to read the legislation prepared by the Staff of the Joint Committee on Taxation.
Currently, RDS Program subsidies are excludable from the Plan Sponsor's gross income for the purposes of regular income tax. However, for taxable years beginning this December 31, 2012, the amount deducted for retiree prescription drug expenses must be reduced by the amount of the excludable subsidy payments received (i.e., Total Rx Gross Expenses minus Total RDS Subsidy Received).
RDS Services, LLC
RDS Services, LLC has provided comprehensive services to Plan Sponsors since 2005 when the RDS Program began. We are RDS Program administration, audit, and data mining experts and will handle your RDS Program application end-to-end. Call Jayne Brown at (888) 797-8274 for your risk-free assessment or visit us online at http://www.rdsservices.us.