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Indiana: Updated Bulletin on TCJA Changes Addresses State Law Changes Impacting NOLs and R&D Deduction
Information Bulletin No. 116: Indiana Provisions Related to the Tax Cuts and Jobs Act, Ind. Dept. of Rev. (rev. 1/24). The Indiana Department of Revenue (Department) issued an updated bulletin on Indiana tax provisions related to the federal Tax Cuts and Jobs Act (i.e., P.L. 115-97 or “TCJA”) that reflects Indiana legislation enacted in 2023 [see S.B. 419 (2023), and State Tax Matters, Issue 2023-19, as well as previously issued Multistate Tax Alert, for more details on these Indiana tax law changes]. Specifically, the bulletin addresses Indiana law changes involving the computation of net operating losses (NOLs) for purposes of determining Indiana adjusted gross income, and requiring Indiana taxpayers with certain research and development expenses to deduct from their Indiana adjusted gross income for a taxable year the amount of specified research or experimental expenditures paid or incurred by them during the taxable year and then add to their Indiana adjusted gross income an amount equal to the deduction claimed under Internal Revenue Code section 174 for the taxable year. Please contact us with any questions.
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