Tax Act modifies Section 162(m) aggregated group and deduction allocation rules
The “One Big Beautiful Bill Act”, signed into law on July 4, includes provisions amending Section 162(m).
What happened?
Several states recently have taken steps to advance utilization of the research and development (R&D) credit at the state level.
Why is it relevant?
These tax law changes may have a significant impact on certain taxpayers and industries looking to claim the R&D credit in these states.
Actions to consider
Taxpayers should review the impact of these R&D credit developments on their operations.
Update on state research credit developments
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