Webinar: Reviewing R&D Credits Under ASC 730 and Extending the Benefits to FDII and Sales & Use Tax

Since its introduction this past September, the updated LB&I ASC 730 directive has provided corporations with new opportunities to improve their R&D processes, reduce time to calculate credits, gain more confidence in the precision of their credit claims, and ensure that they are maximizing their credits by including all eligible activities. What many tax departments may not realize, though, is that there are benefits in reviewing their R&D study process beyond the R&D Credit that extends to maximizing their FDII deduction and Sales & Use Tax Exemptions, with the same methodology providing the basis for all three calculations.

In this one-hour webinar, GTM’s team will provide updates on how the updated ASC 730 directive apply and how to extend the benefits of this review to the other two areas:

R&D Credit 

• IRC 41 QREs and ASC 730 LB&I Directive QRAs and QREs
  • ASC 730 Directive and 2020 Changes
• R&D Process Improvement Considerations
  • Meeting 2020 Directive Requirements
  • Additional Tax benefits of Process Improvements

 FDII 

• Quick overview of FDII rules
• Synergies between FDII/R&D

Sales & Use Tax 

• Leveraging the review of ASC 730 for SUT opportunities
  • R&D Exemption is State Specific
  • Qualifying R&D is Related to New Products and Product Improvement
  • R&D Credit Data Useful in Performing Sales Tax Exemption Study