Plan ahead for unused and refundable Arizona research tax credits

Arizona passed a new law last year (ARS § 43-1074.01) adjusting the 15 consecutive taxable years carryforward of unused R+D credits. Beginning from and after December 31, 2021, unused Arizona research tax credits may now be carried forward to the next ten consecutive taxable years – a reduction of five years. Taxpayers will need to …

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New 2022 ruling for R+D expense amortization

There’s been a big change for R+D expense amortization for tax years beginning after December 31, 2021. Domestic R+D expenses must now be amortized over five years and overseas R+D expenses must be amortized over 15 years. Don’t miss: Business meals 100% deductible in 2022 This change is effective for tax year 2022 for calendar …

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