Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 70

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 70
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 Code places limitations upon the future availability of NOLs based upon changes in the equity of the Company. If these occur, the ability of the Company to offset future income with existing NOLs may be limited. In addition, the Company has available at December 31, 2024, a foreign NOL carry-forward of $66.5 million and a net state operating tax loss carry-forward of approximately $225.6 million. These net operating tax loss carry-forwards began to expire in 2025.The tax losses generated in tax years 2005 and forward remain subject to audit adjustment, and tax years 2017 and forward are open to examination by the major jurisdictions in which the Company operates.

F-35Table of Contents

The Company is subject to income tax and other taxes in the geographic areas where it holds assets or operates, and the Company periodically receives notifications of audits, assessments, or other actions by taxing authorities. In certain jurisdictions, taxing authorities may issue notices and assessments that may not be reflective of the actual tax liability for which the Company will ultimately be liable. In the process of responding to assessments of taxes that the Company believes are not reflective of the Company’s actual tax liability, the Company avails itself of both administrative and judicial remedies. The Company evaluates the circumstances of each notification or assessment based on the information available and, in those instances in which the Company does not anticipate a successful defense of positions taken in its tax filings, a liability is recorded in the appropriate amount based on the underlying assessment.The Company records a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return if applicable. As of December 31, 2024 and 2023, the total amount of unrecognized tax benefits are $13.9 million and $14.2 million, respectively, all of which would impact the effective rate if recognized. The Company expects the unrecognized tax benefits to change over the next 12 months if the applicable statute of limitations expire and the impact could range from zero to $3.0 million. For the period ended December 31, 2024 the Company recorded penalties and interest expense related to unrecognized tax benefits of $0.3 million as interest expense.A reconciliation of the beginning and ending amount of unrecognized tax benefits are as follows:                      For the year ended December 31,  2024 2023 2022            (in millions)Balance, January 1, $ 14,202 $ — $ —Additions based on tax positions related to the