R&D: New updates to Tax Credits and Capitalization for 2022

This CTC webinar presentation will cover:

a. What costs qualify for research and development tax credits pursuant to IRC 41

b. What costs require capitalization pursuant to IRC 174?

c. How research and development is defined?

d. Identification of certain excluded costs.

e. Opportunities to exchange R&D credits for cash at state level and utilize R&D credits to offset employer payroll expense

f. Impact of IRC 174 capitalization

Presenter: William Claffey Esq., Tax Partner, Fiondella, Milone and LaSaracina LLP

Bill heads the firm’s State and Local & Incentives Tax Practice with a primary focus on income tax, sales tax, and federal and state credits and incentives. Bill’s experience includes analyzing state tax issues related to business reorganizations, reviewing state tax filings for refunds and favorable filing positions, performing Nexus evaluations, preparing provision and FIN-48 work papers and supporting memorandums, identifying credit and incentive opportunities, and representing clients in state income tax controversy matters.

Bill has worked with a diverse array of biotech, medtech, and advanced manufacturing clients such as Biorez, Inc., ReNetX Bio, TRC Companies, P2 Science, Inc., RBC Bearings, Inc., Azitra, ProteoWise, Oxford Performance Materials, Inc., The Eastern Company, Autem Medical, Inc., SmartEquip, Inc., Proton OnSite, Shoreline Biome, LLC, Victory Genomics, Inc., and Torigen Pharmaceuticals. Bill also provides extensive sales and use tax consulting services which include analyzing the taxability of specific buy or sell side transactions, compliance assistance, reverse sales and use tax audits, and representing clients in sales tax controversy matters. Prior to joining FML, Bill had over nine years of experience in the Stamford and Hartford offices of Ernst & Young.

Register and mark your calendars for Wednesday, March 22 at 4:00 PM!