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KPMG report: 2025 state R&D credit changes

Overview of the latest state-by-state changes to the R&D credit

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december 3, 2025

In the ever-evolving landscape of tax incentives, research and development (R&D) credits continue to play a pivotal role in fostering innovation and economic growth. Recently, several states have made significant changes to their R&D credit regimes, offering new opportunities and challenges for businesses.

Read a December 2025 report prepared by KPMG LLP that provides an overview of the latest state-by-state changes to the R&D credit, highlighting key updates and implications for businesses.

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