State Responses to New Section 174 Requirements for R&D: Conforming and Nonconforming States
Recording of a 110-minute CPE webinar with Q&A
This webinar will discuss how federal legislative changes to the ability to deduct research and development (R&D) expenditures impact state income taxes. Our R&D credit veterans will review the current federal requirement to capitalize R&D, states' responses to these changes, best practices for deducting or amortizing R&D expenses in conforming and nonconforming states, and the state of proposed legislative corrections.
Outline
- Section 174 legislation update
- R&D costs
- State conformity
- Nonconforming states
- Conforming states
- Other states
- Implementing Section 174 capitalization requirements
- Revenue Procedure 2024-12
- Best practices
Benefits
The panel will cover these and other key issues:
- What costs are included in the definition of R&D?
- Which states are nonconforming states and how is the deduction handled in these states?
- How is a change in accounting method made under Revenue Procedure 2024-12?
- What is the current status of retroactive changes to restore the R&D deduction?
Faculty
Jamie Overberg
Partner
TaxOps Minimization
As a tax partner for TaxOps Minimization, Ms. Overberg specializes in executing and managing a wide range of tax... | Read More
As a tax partner for TaxOps Minimization, Ms. Overberg specializes in executing and managing a wide range of tax minimization strategies, including all aspects of the Research and Development tax credit as well as financial reporting requirements under FAS 109 and Fin 48. In addition, she works with Section 199, Section 263A, and Section 382 analysis, calculations, and reporting. She works primarily with clients in the automotive, engineering, manufacturing, software, biotech and oil and gas sectors, and has worked on numerous R&D tax controversy engagements
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Stacey L. Roberts, CPA
State and Local Tax Director
TaxOps
Ms. Roberts has been making state and local tax (SALT) less taxing for thousands of businesses over the last 25 years.... | Read More
Ms. Roberts has been making state and local tax (SALT) less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she guides dynamic businesses through compliance and strategic planning focused on minimizing risk and strengthening tax positions. Ms. Roberts honed her specialty at Andersen Worldwide/Andersen LLP, KPMG and Deloitte before moving in-house with a Fortune 500 company to administer state and local tax. She has also led the national SALT practice at a regional firm. Ms. Roberts is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker, instructor and author on SALT issues for industry and professional organizations.
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