Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 552

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 5
Chunk 552
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9,766  $9,493 

       48

   At  June 30, 2025, we had $2.9 million of non-current liabilities, included in accrued pension and other non-current liabilities on the consolidated balance sheet for uncertain tax positions. We are not able to provide a reasonable estimate of the timing of future payments related to these obligations. The Company increased its uncertain tax position during the year due to state R&D tax credit exposures. The Company decreased its uncertain tax position during the year due to the statute of limitations lapsing on the Sec. 965 toll tax position that was established in prior years.
    
   If the unrecognized tax benefits in the table above were recognized in a future period, $2.9 million of the unrecognized tax benefit would impact the Company’s effective tax rate. The Company expects a decrease in net unrecognized tax benefits of approximately $0.9 million in the next twelve months as a result of the lapse in the statute of limitations. 
    
   Within the next twelve months, the statute of limitations will close in various U.S., state and non-U.S. jurisdictions. The following tax years, in the major tax jurisdictions noted, are open for assessment or refund:

     Country   Years Ending June 30,  
 United States   2022 to 2025 
 Canada   2021 to 2025 
 Germany   2021 to 2025 
 Ireland   2024 to 2025 
 Portugal   2023 to 2025 
 United Kingdom   2021 to 2025 

     The Company’s policy is to include interest expense and penalties related to unrecognized tax benefits within the provision for income taxes on the consolidated statements of operations.  At
     June 30, 
    2025 and 
    2024, the company had
    $0 and
    $1.3 million for accrued interest expense on unrecognized tax benefits.

   On  July 4, 2025, the U.S. government enacted The One Big Beautiful Bill Act of 2025 which includes, among other provisions, changes to the U.S. corporate income tax system including the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. Certain provisions are effective for the company beginning fiscal 2026. We are evaluating the future impact of these tax law changes on our financial statements.
    
   The Organization for