Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 126

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 126
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 in 2030

        State research tax credit carryforwards

        916

        indefinite

        Federal foreign tax credit carryforwards

        2,013

        will begin to expire in 2028
       
       The Company files income tax returns in the U.S. federal, various states and foreign jurisdictions.  In the normal course of business, the Company is subject to examination by taxing authorities throughout the world.  The following tax years remain subject to examination: 

        Significant jurisdictions
         
        Open Years

        U.S. Federal
         
        2021 – 2023

        U.S. States
         
        2020 – 2023

        Foreign
         
        2020 – 2023
       
       In various jurisdictions, years prior to 2020 remain open solely for the purposes of examination of the Company’s NOL and credit carryforwards.Tax HolidayThe Company operates under a tax holiday in Switzerland from 2020 through 2029, which consists of two consecutive five year periods:  2020 - 2024 and 2025 - 2029. The tax holiday is conditional upon the Company meeting specific activity and investment requirements as outlined by the Swiss Tax Authorities. The impact of this tax holiday is as follows (in thousands, except per share amounts): 

        Years Ended

        2024

        2023

        2022

        Tax impact related to tax holidays
         
        $
        4,466

        $
        8,683

        $
        7,394

        Impact of tax holidays on diluted earnings (loss) per share
         
        $
        0.09

        $
        0.17

        $
        0.15

       Uncertain Tax BenefitsA reconciliation of the beginning and ending amount of unrecognized tax benefits, exclusive of interest, are included in other current liabilities as income taxes payable, is as follows (in thousands): 

        Year Ended

        2024

        Balance at beginning of period
         
        $
        —

        Increases (decreases) - tax positions in prior period

        910

        Increases (decreases) - tax positions in current period

        —

        Balance at end of period
         
        $
        910

       Interest of $540,000 was recognized for the year ended 2024 related to the 202