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Pro Bono

Am Law 100 firm with practices in Business, Digital Assets and Data Management, Intellectual Property, Labor & Employment, Litigation and Tax.

Home | BakerHostetler

To Help the New Administration Help Your Industry, You Need an Agency Strategy (Real Estate Finance Journal)

Artie McConnell Comments on Upcoming DOJ Data Security Program in Dark Reading Article

IP Intelligence Report

US Patents Set to Issue 33 Percent Faster from the Notification Date

Alexander Reid Presents Update on Nonprofit Legislation, Regulation at Illinois CPA Society Symposium

The 2017 Tax Cuts and Jobs Act prevented companies from immediately and fully deducting research costs beginning with the 2022 tax year. But two major laws passed last year offer significant incentives for research and development (R&D), according to an April 5, 2023, Law360 Tax Authority article titled “R&D Expensing Loss May Be Outweighed by Other Incentives.”  The CHIPS Act and the Inflation Reduction Act, both passed in 2022, include subsidies and grants to boost semiconductor production and tax incentives for renewable energy, and Partner Jeff Paravano told Law360 their impact will be considerable. However, businesses operating at loss will not have access to tax incentives because they don’t pay tax. “If you’re not a taxpayer, the tax benefits of various expenses, including expenses related to R&D for wages and other things, may be less valuable,” he said.  <a href="https://www.law360.com/tax-authority/articles/1593974/r-d-expensing-loss-may-be-outweighed-by-other-incentives" target="_blank" rel="noopener">Read the article (subscription required).</a>

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Jeffrey H. Paravano

Jeff Paravano Quoted About Impact of Laws Incentivizing Research and Development

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