Taxpayers could transfer research credits and carry them forward

Taxpayers may sell, exchange, or transfer tax credits under this act to another taxpayer for the credit's full value. This applies to credits provided under the Technology Jobs and Research and Development Tax Credit Act. The parties to the transaction must notify the taxation department within ten days. The provisions apply to taxable years beginning on or after January 1, 2026.

A taxpayer may claim an unused approved additional credit in later reporting periods for up to ten years from the original claim. This applies to additional credits under the Technology Jobs and Research and Development Tax Credit Act. The credit must be approved, and the amount must not have been used against taxes or refunded. The ten-year period runs from the date of the original claim. The provisions apply to taxable years beginning on or after January 1, 2026.