Company: ATRA
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000950170-25-035507
Chunk: 239

Company: Atara Biotherapeutics, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1B
Chunk 239
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 beginning on or after January 1, 2018 may be carried forward indefinitely, but the utilization of such federal NOLs is limited to 80% of taxable income in future years. Since enactment, the IRS and Treasury have issued final and proposed regulations including clarifying guidance on several topics addressed by the Tax Act. Not all states conform to the Tax Act or and other states have varying conformity to the Tax Act. As of December 31, 2024, for federal income tax purposes, we had net operating loss carryforwards of approximately $1.2 billion of which $15.4 million begin to expire in 2036 and the remaining may be carried forward indefinitely, and research & development tax credits of $1.1 million which begin to expire in 2044. For state income tax purposes, we had net operating loss carryforwards of approximately $53.9 million which begin to expire in 2030, and research & development tax credits of $45.8 million which may be carried forward indefinitely.

128

The changes in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for the years ended December 31, 2023 and 2024 are as follows: 

        (In thousands)

        Balance as of January 1, 2023
         
        150,965

        Gross increases for tax positions related to current year
         
        5,538

        Gross increases for tax positions related to prior year
         
        3,843

        Gross decreases for tax positions related to prior year
         
        —

        Balance as of December 31, 2023
         
        160,346

        Gross increases for tax positions related to current year
         
        1,011

        Gross increases for tax positions related to prior year
         
        647

        Gross decreases for tax positions related to prior year
         
        (124,071
        )

        Balance as of December 31, 2024
        $
        37,933

      We currently have a full valuation allowance against our U.S. net deferred tax assets, which would impact the timing of the effective tax rate benefit should any uncertain tax position be favorably settled in the future. The reversal of unrecognized tax benefits would not affect our effective tax rate to the extent we continue to maintain a full valuation allowance against our deferred tax assets. Our policy is to account for interest and penalties related to uncertain tax positions as a component