Why read about the R&D tax credit on the web, when you can buy the book?
MEMORANDUM OPINION WILLIAM L. STANDISH, District Judge. These suits focus on the efforts of Plaintiffs Bayer Corporation, its subsidiaries, and Bayer-Onyx (collectively, “Bayer”) to recover some $50 million in federal income tax payments to which Plaintiffs argue they are entitled as qualified research tax credits under 26 U.S.C. § 41. Now pending before the Court [...]
Jun 25th, 2010
In Procter & Gamble Co. v. United States, No. 1:08-cv-00608-TSB (Jun. 25, 2010), the District Court for the Southern District of Ohio concluded that the taxpayer did not have to include gross receipts from sales to a controlled foreign corporation in computing its research tax credit. The implications of this conclusion require some further thought.
Feb 22nd, 2010
The government recently issued Technical Advice Memorandum 201006027, applying the R&D tax credit rules for acquiring and disposing of business assets in the context of the I.R.C. § 963 possessions tax credit. This now defunct possession tax credit rewarded taxpayer’s for operating businesses in U.S. possessions, such as Puerto Rico. It incorporates the R&D tax [...]
Feb 19th, 2010
In R.H. Donnelley Corp. v. United States, No. 5:08-cv-00501 (ED NC 2010), the court addressed a unique situation involving the carryback of an R&D tax credit. The facts were as follows. The R&D tax credit was for tax year 1994. The taxpayer’s 1994 tax return was audited. No changes were made as a result of [...]