Company: BWMN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001628280-25-012365
Chunk: 48

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 15
Chunk 48
---
12 months is $13.6 million.For the period ending December 31, 2024, the Company recorded net interest of $1.5 million and released $4.0 million of penalties, respectively, related to uncertain tax positions, which were recognized as a component of income tax expense. For the period ending December 31, 2023, the Company recorded interest and penalties of $0.6 million and $4.0 million, respectively, related to uncertain tax positions, which were recognized as a component of income tax expense. For the periods ending December 31, 2024, and December 31, 2023, the Company has an ending uncertain tax position of $52.0 million and $38.0 million, respectively, against its IRC Section 174 research and development expenditures. The Company reported this uncertain tax position given its position that its costs are deductible currently and therefore should not be capitalized and amortized over five years. This uncertain tax position represents a timing difference with no impact to overall income tax expense or benefit.  For the periods ending December 31, 2024, and December 31, 2023, the Company has an ending uncertain tax position of $0.9 million and $0.6 million, respectively, against its research and development expenditures credit.The Company files income tax returns in the U.S. federal jurisdiction and certain states in which it operates. The Company’s federal income tax returns for tax years 2021 and thereafter remain subject to examination by the U.S. Internal Revenue Service. The statute of limitations on the Company’s state income tax returns generally conforms to the federal three-year statute of limitations. The Organization for Economic Cooperation and Development has released Pillar Two Model Rules, a 15% minimum effective tax rate designed to ensure that large multinational enterprises pay a minimum level of tax on the income arising in each jurisdiction where they operate and mandates sharing of certain company information with taxing authorities on a local and global basis. Certain jurisdictions have enacted, and others have proposed, legislation to implement certain provisions of Pillar Two. The Company is continuing to monitor the implications resulting from the potential enactment of Pillar Two rules in the jurisdictions where we operate. The Company has no tax liability resulting from Pillar II for the 2024 year.

16. Employee Stock Purchase and Stock Incentive Plans

Employee Stock Purchase PlanEffective April 30, 2021, the Company established the Bowman Consulting Group Ltd. 2021 Employee Stock Purchase