Rulings Show Local Laws Can Govern Contracts for R&D Tax Credits

A pair of taxpayer legal victories related to the research and development tax credit show how the US Tax Court approaches contract reviews when funding is a potential bar for federal tax credits.

Smith v. Commissioner and System Technologies v. Commissioner are the first cases to consider the local, governing law when conducting a funding analysis related to R&D tax credits. In both disputes, the taxpayers overcame IRS motions for summary judgment due to key questions remaining in both disputes.

Read full article on news.bloombergtax.com

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