Meta Gets $8 Billion Boost From Treasury Move on R&D, Book Tax

Meta Platforms Inc. recorded an $8 billion tax benefit to its first-quarter earnings Wednesday, boosted by a Treasury Department change in how research and development costs are treated under the corporate book-income tax.

Meta said the benefit partly offsets the $15.9 billion tax charge that it recorded last year related to the impact of the corporate alternative minimum tax (CAMT), which requires big, profitable companies to pay at least 15% in taxes on the income they report on their financial statements.

The benefit stems from guidance that Treasury issued in February to address a situation that many companies feared ...