Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
Texas Comptroller provides guidance on research and development costs includable in Texas Cost of Goods Sold The Texas Comptroller of Public Accounts (Comptroller) recently issued a ruling discussing the documentation required to demonstrate whether certain costs attributable to research and development are permitted to be included in the cost of goods sold (“COGS”) deduction for Texas franchise tax purposes. This guidance is in the form of a Comptroller decision pursuant to an administrative hearing, which became final on March 1, 2021.
This Multistate Tax Alert discusses this COGS guidance. [Issued: April 6, 2021] More
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