SB 1365
Authorizes an income tax deduction for certain research expenses
Sponsor:
LR Number:
5287S.01I
Last Action:
2/1/2024 - Second Read and Referred S Economic Development and Tax Policy Committee
Journal Page:
Title:
Effective Date:
August 28, 2024

Current Bill Summary

SB 1365 - Federal law requires taxpayers to amortize the deduction for research and experimental expenses over a period of years. This act allows a taxpayer to deduct the full amount of such expenses for the taxpayer's state income taxes during the tax year in which they were incurred.

This act is identical to HB 2457 (2024).

JOSH NORBERG

Amendments

No Amendments Found.