SB 349 - Fitzwater, Travis
Authorizes an income tax deduction for certain research expenses
Bill Details
Sponsor
LR Number
0641S.01I
Title
SB 349
House Handler
N/A
Journal Page
Effective Date
August 28, 2025
Committee
Current Status
Second Read and Referred S Economic and Workforce Development Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 349 - 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 136 (2025), SB 1365 (2024), and HB 2457 (2024), and to a provision in HCS/HB 1427 (2024).
JOSH NORBERG