Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 139

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 139
---
 compensation

         (12,932
         )

         (12,182
         )

         (12,032
         )

         Change in state effective tax rate

         (452
         )

         292

         458

         Base Erosion and Anti-Abuse Tax (BEAT)

         (30,448
         )
          
         —

         (8,610
         )

         Foreign effective tax rate differential, net of valuation allowance

         (9,185
         )

         6,199

         (5,769
         )

         Unremitted subsidiary gains

         (7,043
         )

         (1,586
         )

         (887
         )

         Withholding taxes

         (6,852
         )

         (4,981
         )

         (1,591
         )

         Other

         (7,514
         )

         2,256

         (1,605
         )

         Total (provision for) benefit from income taxes
          
         $
         941

         $
         139,474

         $
         (49,418
         )
        
        As of March 31, 2025, the Company had federal and state R&D tax credit carryforwards of $138.4 million and $203.4 million, respectively, which begin to expire in fiscal year 2040 and fiscal year 2026, respectively. As of March 31, 2025, the Company had federal and state net operating loss carryforwards of $597.2 million and $303.0 million, respectively, which begin to expire in fiscal year 2029 and fiscal year 2026, respectively.Beginning in fiscal year 2023, for federal income tax purposes, the Company is required to capitalize and amortize domestic R&D expenditures over five years and foreign R&D expenditures over 15 years under the Tax Cuts and Jobs Act of 2017, which delays the deductibility of these expenditures.

F-46

VIASAT, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 

In accordance with ASC 740, net deferred tax assets are reduced by a valuation allowance if, based on all the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Future realization of existing deferred tax assets ultimately depends on future profitability and the existence of sufficient taxable income of appropriate character (