R&D Tax Credit Benefits: State Tax Incentives

Filing state tax returns in the following jurisdictions (state specific R&D tax credit opportunities):

*These states may provide refundable (refund cash payments for credits in excess of tax liability) R&D tax credits, permissible sale / transfer of unused R&D credits to third-parties, or payroll tax offset opportunities.


**On June 29, 2020, California Governor Newsom and its state legislatures passed into law Assembly Bill 85 that suspends the use of California net operating loss (NOL) deductions and certain tax credits for the 2020, 2021, and 2022 tax years. Under current law, NOL carrybacks are no longer allowed for California purposes for tax years beginning or after January 1, 2019.

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